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The Economic Times

Economy / The Economic Times

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Bank of America to acquire 49.9% in Jio Credit in potential Rs 18,268 crore deal

Jio Financial Services and Bank of America announced a significant joint venture agreement. The US banking major will acquire up to 49.9% in Jio Credit. This investment could reach Rs 18,268 crore, approximately $1.9 billion. Bank of America will initially hold a 26.5% stake in the NBFC. The transaction is subject to necessary regulatory and statutory approvals.

12 Aug 2026 8:56 pm