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Bajaj Finance has decided to exit the co-branded credit card distribution business, terminating its partnership with RBL Bank and potentially with DBS Bank as well. This move comes despite previous ambitions to become a leading card issuer, as the company currently holds around 4 million co-branded credit cards. While valuations appear attractive, significant upside is unlikely until Bajaj Finance addresses asset quality challenges in its B2C loan book and increases the proportion of secured loans. The target price is set at INR 7,250.
China's yuan is projected to weaken to record lows as U.S. tariff threats escalate, with major investment banks forecasting an average of 7.51 per dollar by the end of 2025. The yuan's depreciation poses challenges for Chinese authorities, who aim to stabilize the currency while reviving the economy. The People's Bank of China is expected to implement measures to prevent excessive declines, balancing currency control with economic growth.
Adani Green has initiated the issuance of dollar-denominated bonds aimed at repaying overseas loans. The Adani Group has enlisted a consortium of banks, including DBS Bank, Emirates NBD Bank, and others, to serve as joint bookrunners for this financial endeavor.
DBS Bank
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bajaj finance exits co-branded credit card business amid strategic shift
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