Archive · 8 Dec 2025
SMFG India Credit Overhauls Governance Under New CEO
SMFG India Credit, a non-banking financial company, is undergoing significant changes under its new CEO, Ravi Narayanan.
The company, which was acquired by Sumitomo Mitsui Financial Group (SMFG), is focusing on improving its compliance and corporate governance standards to meet the expectations of both Indian regulators and its Japanese promoters.
Narayanan aims to reduce the share of unsecured loans and leverage the parent company's relationships to attract business.
The company has a significant presence in rural markets and plans to grow its secured loan portfolio, including loans against property and affordable housing.
Despite the focus on secured loans, the company will continue to offer high-yield unsecured lending, which has been a core strength of the business.
The goal is to achieve stable and sustainable growth.
SMFG India Credit is overhauling its compliance and corporate governance standards under new CEO Ravi Narayanan.
The company aims to reduce its share of unsecured loans and improve governance to meet the expectations of Indian regulators and Japanese promoters.
SMFG has invested ₹4,300 crore in equity in FY25 to support the company's growth.
The company plans to leverage its parent company's relationships with Japanese conglomerates to attract business, particularly in rural markets.
The goal is to achieve a 55% secured loan portfolio and stable, sustainable growth.
- Who
- SMFG India Credit, led by new CEO Ravi Narayanan
- What
- Overhauling compliance and corporate governance standards
- When
- Next 45-60 days for initial changes, 12-15 months for full governance overhaul
- Where
- India, with a focus on rural markets
- Why
- To meet expectations of Indian regulators and Japanese promoters, and to ensure stable growth
- Current CEO
- Ravi Narayanan
- Parent Company
- Sumitomo Mitsui Financial Group (SMFG)
- Total Assets Under Management (as of 30 September)
- ₹62,600 crore
- Equity Investment by SMFG in FY25
- ₹4,300 crore
- Unsecured Loans Percentage (FY25)
- 52%
- Target Secured Loans Percentage
- 55%
- Branch Distribution
- 3% in tier-one cities, 16% in tier-two, majority in tier-three and other towns