PRTODAY / NewswireToday Free press release distribution service network

More news: Software
Written by / Agency / Source: CRIF

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

CRIF S.p.A. Acquires Majority Stake in High Mark Credit Information Services - High Mark Credit Information Services Pvt Ltd (High Mark), a leading Credit Information Company licensed by the Reserve Bank of India (RBI), announced the acquisition of a strategic stake by CRIF S.p.A - CRIF.com
CRIF S.p.A. Acquires Majority Stake in High Mark Credit Information Services

 

NewswireToday - /newswire/ - Bologna, Italy, 2014/06/04 - High Mark Credit Information Services Pvt Ltd (High Mark), a leading Credit Information Company licensed by the Reserve Bank of India (RBI), announced the acquisition of a strategic stake by CRIF S.p.A - CRIF.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Larry Howell is the Chairman of the newly constituted board and Kalpana Pandey continues to be the CEO and Managing Director. High Mark's current management and staff will be retained to carry on its current business operations.

SBI Capital Markets Limited acted as financial advisor to High Mark for this transaction. Europe-based CRIF (crif.com) was a strategic investor in High Mark and it has been able to increase its current holding subsequent to the Reserve Bank of India allowing a foreign credit information company to hold up to 74% in an Indian Credit Bureaus. RBI has taken a very proactive and keen interest in the overall development of Credit Information Companies in the country.
“Our successful experience in delivering credit bureau solutions worldwide, such as in Italy, Czech Republic, Slovak Republic, Russia, Jamaica, Morocco, Benin, Vietnam, Bangladesh, Tajikistan, and Indonesia, make us confident that significant advantages will also be provided to Indian lenders and borrowers. On the one hand, the availability of a full credit history will give Indian citizens and businesses easier access to credit, as well as providing more favorable conditions to reliable applicants. On the other hand, Indian banks and financial institutions will be more confident in their management of the financial exposure of consumers and companies and can avoid excessive risk assumption,” explained Carlo Gherardi, CRIF CEO.

High Mark is known for its pioneering work in providing bureau coverage for Microfinance Institutions (MFIs) in India since March 2011 and operates World’s largest Microfinance database. High Mark today is a full service credit bureau catering to all borrower segments Microfinance, Retail consumers, MSME and Corporate borrowers. High Mark’s other existing promoters include leading financial institutions such as State Bank of India, Punjab National Bank, SIDBI, Edelweiss, Shriram City Union Finance and Alpha, a consortium of Microfinance Institutions.
"We are excited about the new opportunity for CRIF in India, considering the high growth potential and the strategic importance of the country’s credit market. Leveraging High Mark’s experience and CRIF’s proven track record in the development of credit information systems worldwide, the credit bureau will play an important role in the promotion of a more mature credit culture in the Indian economic system and sustain the financial needs of businesses and consumers,” said Larry Howell, Chairman, CRIF International. Larry Howell was also instrumental in setting up India’s first and leading credit bureau (CIBIL) in his previous job.

Kalpana Pandey, CEO & MD (High Mark), stated that,“Through technology innovations and start-up dynamism, High Mark has created a strong foundation for a bureau business in last three years, since receiving an RBI license. CRIF’s international experience in the sector, especially in the developing countries, will infuse fresh momentum to our business and growth, by allowing us to extend CRIF’s global expertise to our customers.”
“This investment is very good for High Mark as the backing of a strong global player like CRIF would put the Company on a strong footing with access to funds and best global technologies,” said Avinash Kulkarni, Executive Vice President, SBI Capital Markets Limited.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: CRIF

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
Software Warnings - IMPORTANT:
Always be aware/cautious about what you download on your computer/mobile! PURCHASE SOFTWARE related keywords / Banner Ads. Click HERE for details!
.

 
  Your Banner Ad showing on ALL
Software articles,
CATCH Visitors via Your Competitors Announcements!


CRIF S.p.A. Acquires Majority Stake in High Mark Credit Information Services

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Press Office - CRIF.com 
+39 0514176111 communication[.]crif.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any CRIF securities in any jurisdiction including any other companies listed or named in this release.

Software via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From CRIF / Company Profile


Read Software Most Recent Related Newswires:

Infor Delivers Enhanced Mobile Equipment Solution
Mentor Graphics and SiliconIndia Announce 2016 Leadership Awards for the Embedded/VLSI Industry
TIBCO Releases TIBCO Mashery Local API Management Solution for Hybrid Gateway Deployments
Comways and Altitude Highlight Flexible Solutions at Belgium Contact Center Congress
Gruppo Campari Chooses OpenText Business Network for B2B Growth
Korean Retailer Homeplus Optimizes Store Planning with JDA Category Management
IBM and Pfizer to Accelerate Immuno-oncology Research with Watson for Drug Discovery
The VELUX Group to Drive Smart Product Innovation with Implementation of PTC Windchill Across the Enterprise
KPIT Takes A Strategic Stake in A Germany Headquartered Automotive Engineering Services Company
Pegasystems Named Silver Winner for Best New Product of the Year in Best in Biz Awards 2016
Kentico Releases its Most Enterprise-Ready Solution Yet
OneLogin Delivers First-Ever Multi-Environment AWS User Resource Provisioning
Mahindra and IBM to Develop Blockchain Solution for Supply Chain Finance
Toyota Motor Corporation Approves Mentor Graphics Volcano™ VSTAR AUTOSAR Stack for Deployment in Toyota Vehicles
Wiley Launches New Spectra Lab Applications to Help Scientists Manage Analytical Data

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  NAKIVO, Inc.

Visit  JobsWare.com





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)