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Bank of America is buying nearly half of Jio Financial Services’ lending business, Jio Credit. The two companies will then jointly own and run Jio Credit, with Jio Financial keeping the majority stake.
What’s going on: Bank of America will initially acquire a 26.5% stake in Jio Credit, with the option to increase that to 49.9% through warrants.
Both companies will get equal representation on Jio Credit’s board, while its existing management team will continue running the business.
The why: Jio Credit offers loans through a digital-first model and has grown extremely quickly.
In just about two years, its Assets Under Management (AUM) reached ₹30,667 crore, as of June 2026.
AUM here is basically the total value of loans and other credit that Jio Credit currently manages.
The deal reportedly values Jio Credit at around 2.5 times its net worth, notable for a lending business that effectively started operations only around two years ago.
So, who brings what: Jio Financial brings its digital ecosystem, Indian customer reach and understanding of the local market. Bank of America brings lending experience, global financial expertise and risk-management systems.
Together, they want to make borrowing easier, more digital and available to more Indians, while expanding Jio Credit’s existing and new lending products.
The bigger picture: this is becoming Jio Financial’s playbook.
It has already partnered with BlackRock for asset management and Allianz for insurance. Now, Bank of America becomes its global partner for lending.
The idea is to combine Jio’s distribution and technology with established global financial companies that already know how to run these businesses at scale.
And Mukesh Ambani summed up the broader ambition:
“Our country’s progress toward becoming Viksit Bharat by 2047 demands a financial ecosystem built on scale, trust, and inclusivity. Central to this journey is the democratisation of responsible credit, characterised by lower costs for the customer, absolute transparency, and expanding access to capital as our economy grows.”
