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SBFC Finance Limited’s (SBFC), the leading pan-India NBFC, has been upgraded from ‘IND A+ Stable’ to ‘IND AA- Stable’ by India Ratings and Research (Fitch). The rating upgrade reflects SBFC’s improved ability to grow its franchise, strengthened by its equity capital base through its public listing. The upgrade also reflects the expectation of a further increase in the company’s scale of operations over the medium term to drive operating leverage benefits along with maintained profitability and capital buffers.  The ratings continue to be supported by the company’s stable & experienced management profile demonstrating good governance and institutionalized approach, pan-India presence with less concentrated geographical presence along with maintained stable asset quality and improved profitability buffers, India Ratings wrote in its letter issued to the Company.

The Rating upgrade further strengthens the franchise in multiple ways including opening up new avenues of debt funding. This also gives further ability to strengthen the model that is been built over six years in respect of the distribution network, credit culture, and the trust that is been put by Banks, the Customers, and other Stakeholders in the Company.

The Mumbai-based non-banking lender provides loans to entrepreneurs, small business owners, self-employed individuals, salaried and working-class individuals. It reported an AUM of Rs. 5803 crores and a Profit After Tax of Rs 100 crore during the half-year year ended September 2023.

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