IN BRIEF: BofA enters JV with India's Jio Financial Services

12. Aug 2026

(AWP Alliance News) - Bank of America Corp - Charlotte, North Carolina-based bank - Agrees to acquire up to 49.9% of Jio Credit Ltd. The company says the venture will "combine JFSL's digital reach and knowledge of the Indian market with BofA's global financial services expertise." Jio Credit is a wholly-owned non-bank financial company subsidiary of Mumbai-based Jio Financial Services Ltd.

"India is one of the world's most important growth markets, and this investment reflects our confidence in its future, a market we know well and have supported for decades. We are excited to become a partner with Jio Financial Services, which has achieved remarkable scale in a short period of time, growing to more than USD3 billion in assets under management in just two years," says Brian Moynihan, chair and chief executive of Bank of America.

Current stock price: USD64.81, up 1.3% in New York on Wednesday

12-month change: up 36%

By John Robaina, Alliance News reporter

Comments and questions to newsroom [at] alliancenews.com