Deutsche Bank AG, India, provides € 91 million sustainability-linked-loan to SMFG India Credit
Summary
Deutsche Bank AG, India, on Monday said it has provided a 91 million (about 814 crore) sustainability-linked-loan to SMFG India Credit (SMICC). The loan was facilitated via the Banks Gift City Branch.SMICC is a wholly owned subsidiary of Sumitomo Mitsui Financial Group (SMFG). It has over 1,000 branches and had Assets Under Management (AUM) of 49,800 crore as on September-end 2024.The senior secured loan, which carries a tenor of three years, is compliant with Deutsche Banks Sustainable Finance framework criteria. Also read: Adani Group plans 7.5 lakh crore investment in Rajasthan, targeting renewable energy and green jobsThe loan will not only help expand SMICCs portfolio and enable channeling funds toward MSMEs but also empower women entrepreneurs in underserved segments across India, Deutsche Bank said in a statement.Pankaj Malik, Chief Financial Officer, SMICC, said This strategic loan empowers us to expand our lending reach across the country, particularly amongst the underserved segment in the semi-urban areas.The completion of this sustainability-linked loan reinforces the Banks commitment to promoting sustainable finance in India, said Rajesh Thakur, Head of Cash Management and Trade Finance at Deutsche Bank.Kalpana Seethepalli, Deutsche Banks Director of ESG for APAC, Middle East, and Africa, said this transaction highlights SMFG India Credits flagship programs around financial inclusion, showcasing women and finance as powerful impact drivers.