Northern Arc to acquire business of S.M.I.L.E. Microfinance to grow retail lending

Northern Arc to acquire business of S.M.I.L.E. Microfinance to grow retail lending

Northern Arc to acquire business of S.M.I.L.E. Microfinance to grow retail lendingFeb 24, 2022, 05:12 PM IST

The transaction will involve the takeover of the microfinance portfolio of S.M.I.L.E., along with its extensive network of nearly 150 branches catering to over two hundred thousand customers. Around 850 employees of S.M.I.L.E. will move to the rolls of the Northern Arc group.

Ideal Finance rebranded as Mahindra Ideal FinanceFeb 24, 2022, 01:02 PM IST

This rebranding will form the bedrock on which the two joint venture partners (Mahindra Finance and Ideal Group) will build the vision of making Mahindra Ideal Finance one of the leading licensed finance companies (LFC) in Sri Lanka, the company said in statement.

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