SMFG India Credit Assigned International Rating of A/Stable by CareEdge Global; Rating Stands Two Notches Above India’s Sovereign Rating

SMFG India Credit (SMICC), a leading non-banking financial company and a wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG), has been assigned a Long-Term Foreign Currency Issuer Rating of ‘CareEdge A/Stable’ by CareEdge Global. This rating stands two notches above India’s sovereign rating, underscoring SMICC’s strong creditworthiness and the high level of confidence reposed in the company’s financial and operational framework. The rating is driven by strong credit profile of the parent company SMFG and its 100% ownership in SMICC.

While SMICC’s operations are exclusively focused on the Indian market, the international rating by CareEdge Global reflects the company’s growing scale, diversified product portfolio across geographies, and robust risk management practices. The rating also takes into account SMICC’s adequate capitalization, supported by timely and regular capital infusions from its parent, SMFG, as well as its diversified funding base, experienced leadership team, and healthy liquidity position.

Commenting on the development, Mr. Pankaj Malik, Chief Financial Officer, SMFG India Credit, said, “We are pleased to receive the ‘CareEdge A/Stable’ rating from CareEdge Global, which validates our strong fundamentals and reinforces the trust placed in us by our stakeholders. This recognition reflects our consistent efforts to build a scalable, inclusive, and a resilient financial services platform aligned with SMFG’s global vision. We remain committed to responsible growth, prudent risk management, and delivering long-term value.”

This international rating further strengthens SMICC’s position in India’s fast-evolving retail credit landscape and marks a significant milestone in its journey as a key pillar of SMFG’s Asia Multi-Franchise Strategy.