Saison International’s India Arm, Credit Saison India Secures USD 150 million in ECB Funding from Mizuho Bank

Earlier in April 2025, Credit Saison India also announced a USD 300 million ECB tranche from Axis Bank, DBS Bank, CTBC Bank and a major Indian Bank, bringing Credit Saison India’s ECB funding to a total of USD 450 million within a single quarter.

Singapore, May 14, 2025 – Saison International, the global headquarters of Credit Saison, one of Japan’s largest lending conglomerates with a USD 30 billion balance sheet, today announced that its India business, Credit Saison India (registered as Kisetsu Saison Finance (India) Private Limited), has secured External Commercial Borrowing (ECB) funding of USD150 million from Mizuho Bank Ltd. under a bilateral arrangement. This development follows Mizuho Bank’s equity investment for a 15% stake in Credit Saison India, with an investment of USD 145 million in 2024 and further deepens the strategic relationship between the two financial institutions. The equity stake marked Mizuho Bank’s strategic entry into the Indian market via Credit Saison India, and this latest ECB investment further strengthens that long-term partnership.

Saison International has enlarged its international presence in the last decade with offices across Singapore, Indonesia, Vietnam, Thailand, Brazil, Mexico and India. The company received its Non-banking Financial Company (NBFC) license to operate in India in 2019. Within a short span of four and a half years, Credit Saison India has grown its portfolio to 2 million active loans, an AUM of over USD 2B, and an employee base of over 1,300 people. Credit Saison India also lends directly to SMEs via over 60 physical branches across India.

This latest transaction is funded through Mizuho’s GIFT City branch with a 5-year tenor that adds to Credit Saison India’s robust funding mix and enhances its long-term financial resilience. In April, Credit Saison India had secured a syndicated loan of USD 200 million with the participation of Axis Bank (India), DBS Bank (Singapore), and CTBC Bank (Taiwan), and raised another USD 100 million ECB from a major Indian bank. The latest bilateral ECB of USD 150 million from Mizuho Bank further builds on this momentum and enhances the company’s diversified funding base, bringing its total ECB facility to USD 450 million within a single quarter.

Credit Saison India has been diversifying its funding sources through the issuance of bonds and commercial papers, alongside borrowings from over 35 local financial institutions supported by its AAA long-term ratings from CRISIL and CARE. The recent ECB further bolsters the funding strategy, and allows access to capital from international banks and institutions.

This growing pool of funding enables Credit Saison India to support a wider range of borrowers through its co-lending platform and significantly expand its direct lending operations, especially in MSME and secured lending segments.

Mr. Kosuke Mori, CEO of Saison International, said “The continued investment and support from Mizuho Bank, one of Japan’s leading financial institutions, is a powerful endorsement of Saison International’s growth trajectory globally beyond Japan, especially in India. Since our entry into India, we’ve remained focused on building a robust and locally-driven business that has become a top 50 non-bank financial company within a span of five years. Mizuho’s latest backing is not only a testament to our capabilities but also validates our business model and enhances our ability to capitalize on emerging opportunities, further deepening our position in India. This deep alignment of vision and commitment for India will be crucial as we move forward with our strategy of building a diversified, cost-efficient funding base to remain resilient in today’s evolving macro-environment.”

Ms. Presha Paragash, Whole Time Director & CEO of Credit Saison India, said “Mizuho Bank has been a strategic partner in our journey and chose Credit Saison India as its platform to enter the Indian lending market through equity participation. Over the past few years, the partnership has only deepened - now spanning equity, debt, and ECB support. This ECB transaction, after their equity investment in 2024, demonstrates deep conviction in
our growth model and long-term potential in India. It also reflects the strength of our multi-product, multi-vertical focused business strategy, and gives us the power to accelerate our plans to scale the business and expand our pan-India footprint.”

Mr. Masaaki Kaneko, Senior Managing Director / India Co-Country Head, India Corporate Banking Department from Mizuho Bank commented, “We believe in CreditSaison India’s robust, tech-driven lending model and its vision to promote financial inclusion at scale. We are confident in the company’s growth trajectory, leadership, market potential and governance practices. India continues to remain an important geography for us and we are committed to supporting the aspirations of the growing economy. Driven by strong economic fundamentals, rapid digital adoption, and a large underserved credit market, India presents one of the most compelling long-term opportunities in the global financial landscape.”

Through these efforts, Credit Saison India continues to strengthen its financial foundation to withstand interest rate fluctuations and macroeconomic shifts, while expanding its outreach to individuals and MSMEs in need of credit.

As part of the broader Saison Group, the company is also committed to advancing global financial inclusion by sharing its learnings from India across other emerging markets, including Brazil and Mexico.