Green Delta gets 3 foreign strategic partners for digital bank
Green Delta itself will hold a 5% stake in the proposed digital bank, according to a public disclosure
Green Delta Insurance has got three foreign strategic partners for its proposed digital banking venture "Yeah Digital Bank PLC" and the consortium is one of the 52 applicants for a digital banking licence in Bangladesh, according to sources.
The three foreign strategic partners will hold a 70% stake in the proposed digital bank awaiting the Bangladesh Bank licence, while local sponsors will have the remaining 30% stake.
The foreign strategic partners of Green Delta include the Singapore-based technology firm Mintech, which has already provided software and app solutions to around 30 digital banks in various markets. Its client banks served 3.5 crore registered users and disbursed over $50 billion in digitally disbursed loans.
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Silverhorn, another foreign partner, is a Hong Kong and Singapore-based investor firm that has a strategic investment in leading digital banking and digital lending firms in several South-East Asian markets.
China and Hong Kong-based global digital market agency Yeahmobi which works with the world's largest tech firms including Google, Facebook, and YouTube also joined the consortium.
Green Delta itself will hold a 5% stake in the proposed digital bank, according to a public disclosure.
Green Delta and its subsidiaries together would hold 15% shares, while SSD Tech and some local individuals would hold the remaining 15% stake, said the sources.
The foreign partners with expertise and experience in the business of digital banking would strengthen the consortium, said one of the individual sponsors.
