SMBC Asia Rising Fund Completes Acquisition of Shivalik Small Finance Bank

SMBC Asia Rising Fund has acquired Shivalik Small Finance Bank for an undisclosed amount.

Shivalik Small Finance Bank is an Indian financial institution with 26 years of experience in retail banking, notably becoming the first Small Finance Bank in India to transition from an Urban Cooperative Bank.

The acquired bank is distinguished by its technology-focused operations, powered by Infosys Finacle Core Banking and Digital Banking Suite.

Its cloud-based architecture provides unmatched agility to cost-effectively manage scale and support growth.

Shivalik is live on all major retail payment platforms, including UPI, IMPS, NEFT/RTGS, and is a direct member of the National Financial Switch.

With over 6 lakh unique customers, the bank operates through 68 branches and 93 exclusive Business Correspondent Branches across Uttar Pradesh, Uttarakhand, Madhya Pradesh, the National Capital Region (NCR), Telangana, and Haryana.

This corporate acquisition by SMBC Asia Rising Fund represents a strategic move to capitalize on Shivalik's established retail banking expertise, robust technological infrastructure, and widespread operational presence across key Indian states.

Shivalik's advanced digital capabilities and extensive customer network are particularly attractive, offering a solid platform for growth within India's dynamic financial sector.

This transaction is a direct purchase of one company by another, signifying an acquisition rather than a funding round or investment.

The integration is expected to create synergies by combining Shivalik's agile, cloud-native banking platform and its extensive customer reach with the broader resources of SMBC Asia Rising Fund.

The combined entity is anticipated to enhance its market footprint and strengthen its financial service offerings, positioning the organization for accelerated growth and expanded service delivery within India's evolving financial landscape.