Bank of America to buy up to 49.9% stake in Jio Financial’s Jio Credit in joint venture deal

Reuters2026/08/12 15:34

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Bank of America signed a definitive joint venture agreement with Jio Financial Services to buy up to 49.9% of Jio Credit.
Stake to be acquired via preferential allotment of equity shares and warrants in Jio Financial’s wholly owned NBFC lending unit.
Jio Credit had ₹ 30,667 crore in AUM as of June 30, 2026, about $ 3.2 billion USD.
Board to have equal representation from both partners; Jio Credit to remain consolidated in Jio Financial’s reporting.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Bank of America Corporation published the original content used to generate this news brief on August 12, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Bank of America to buy up to 49.9% stake in Jio Financial’s Jio Credit in joint venture deal

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