Bank of America has agreed to invest up to ₹18,268 crore (~$1.9 billion USD) to acquire up to a 49.9% stake in Jio Credit Limited, a fast-growing Indian NBFC subsidiary of Jio Financial Services. This joint venture combines Jio's strong digital presence in India with Bank of America's global financial expertise to expand credit access and innovation in India's rapidly growing financial market. The deal starts with a 26.5% equity stake for Bank of America, potentially increasing to 49.9% upon exercising warrants, pending regulatory approvals. This partnership aims to support Jio Credit's growth and enhance financial inclusion through advanced digital lending solutions.
ZeroRisk, an Irish cybersecurity firm specializing in risk management for payment providers, secured $10 million in a Series A funding round led by MiddleGame Ventures and Elkstone. Founded in 2023, ZeroRisk offers a platform that helps banks and pay...
Bank of America is promoting its Business Advantage Unlimited Cash Rewards Mastercard, which offers a $500 cash back bonus after spending $5,000 within the first 90 days. The card features a simple 1.5% cash back on all purchases with no annual fee a...
Bank of America is rated a Strong Buy with a price target of $78, implying a 26% upside from the current $62. The bank's strong earnings growth is driven by rising net interest income, stronger fee businesses, operating leverage, and aggressive share...
