Back to Career News

DBS Bank India acquires 9.99% stake in Svakarma Finance

June 21, 2022

DBS Bank India acquires 9.99% stake in Svakarma Finance
DBS Bank India Limited today announced that it has acquired a 9.9% stake in Svakarma Finance, a non-banking finance company, for delivering relevant financial solutions to micro-enterprises through a combination of direct lending and co-lending. 

DBS Bank India’s strategy for its expanded franchise across 300+ locations and 500+ branches envisages significant growth in SME and consumer businesses. DBS will continue to identify opportunities to support lending to micro-enterprises in a cost-efficient manner through its own expanded franchise as well as through partners. 

Svakarma is a non-deposit-taking NBFC, set up by seasoned ex-bankers to target micro-enterprises using an industry segment and cluster-focused delivery model leveraging smart technology and data. 

Currently present across Gujarat, Maharashtra, and Tamil Nadu, Svakarma is looking to expand its network across the country. Svakarma’s vision is to democratise access to capital and knowledge to empower entrepreneurs by giving them access to credit, while building a high-impact and profitable lending platform for MSMEs. 

DBS is a leading financial services group in Asia with 18 markets. Recognised for its global leadership, DBS has been named ‘World’s Best Bank’ by Euromoney, ‘Global Banks of the Year’ by The Banker, and ‘Best Bank in the World’ by Global Finance. 

Important Links:

Recommended for you ...

India likely to be fastest growing economy
India likely to be fastest growing economy

August 12, 2022

Building a strategic procurement function in retail banking
Building a strategic procurement function in retail banking

August 12, 2022

ICICI Bank hits ₹6 trillion m-cap the first time
ICICI Bank hits ₹6 trillion m-cap the first time

August 12, 2022

Chat on WhatsApp