Sumitomo Mitsui Banking to acquire a 5.4% stake in Northern Arc Capital.

Sumitomo Mitsui Banking, which provides banking services, agreed to acquire a 5.4% stake in Northern Arc Capital, a debt capital platform headquartered in Chennai. Financial terms were not disclosed. “We hope to leverage on the potential synergies of this partnership to further our mission of financial inclusion and widen our impact on the livelihoods of under-banked individuals and businesses,” Kshama Fernandes, Northern Arc Capital managing director, and CEO.