Mumbai – Mizuho Bank, Ltd. (“Mizuho”), the banking arm of Mizuho Financial Group, Inc. (NYSE: MFG), one of the largest full-service financial institutions in the world, and Bank of Baroda, India’s International Bank, announced a strategic partnership to enhance collaboration across mergers and acquisitions (M&A) financing, structured lending, cross-border financing solutions, and broader corporate and investment banking opportunities.
The partnership brings together Mizuho’s extensive global network, cross-border capabilities, and expertise in structured finance with Bank of Baroda’s strong domestic franchise, deep corporate relationships, and comprehensive understanding of the Indian market.
Focus Areas
Under this partnership, Mizuho and Bank of Baroda will collaborate on transactions covering (a) Acquisition Finance including joint origination, structuring, co-underwriting & syndication (b) M&A Advisory on identified deals (c) Forming preferred-partner channel for sub-participation and secondary risk distribution (d) Ancillary banking services such as cooperation in global market products for foreign exchange & interest rate hedging and escrow services in related transactions and (e) Capacity building through the exchange of best practices in acquisition finance underwriting, structuring and inter-creditor arrangements etc.
Shri Lalit Tyagi, Executive Director, Bank of Baroda said: “India is witnessing a strong wave of domestic consolidation across sectors driven by scale, competitiveness, energy transition, digital transformation and infrastructure-led growth. As corporates increasingly pursue mergers, acquisitions and strategic investments to strengthen their market position, there is a growing need for sophisticated financing and advisory solutions. Through this partnership with Mizuho Bank, we aim to create a robust platform to support domestic and cross-border M&A opportunities, by combining Bank of Baroda’s deep corporate relationships and market insights with Mizuho’s global expertise and sectoral knowledge. We will be well positioned to deliver comprehensive solutions across acquisition finance, syndicated lending, structured finance, and strategic advisory, supporting our clients growth aspirations and contributing to India’s evolving corporate and investment ecosystem.”
Piyush Agarwal, Senior Managing Director & India Co-country Head, Mizuho Bank said: “Mizuho views India as a long-term strategic growth engine and core pillar for its international expansion. Mizuho is one of Japan’s premier financial institutions and a leading acquisition finance and M&A advisory platform across the globe. It has a deep understanding of India’s corporate and financial sector with a 30-year presence in the country. Mizuho considers India a key geography for future growth. Our relationship with Bank of Baroda has been built on trust, collaboration and a common vision of growth while focusing on supporting two major national economies. The MoU will further pave a path for joint development with evaluation of cross-border structuring, syndication, and underwriting of acquisition transactions while relying on capabilities of each other.”
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About Mizuho Financial Group and presence in India
Mizuho Financial Group, Inc. is one of the largest, full-service financial institutions in the world, with approximately 65,000 employees, over 150 years of banking experience, and assets of approximately JPY 302 trillion on a consolidated basis. We have a global network of over 100 offices outside Japan, encompassing numerous financial and business centers around the world, in addition to a nationwide network and one of the largest customer bases in Japan
Rooted in some of the largest, most influential financial institutions in Japanese history, Mizuho has been an important part of our clients’ growth for more than a century. Our financial strength, expertise, client focused values, and unwavering support makes Mizuho a trusted banking partner.
As a full-service financial group, we combine extensive industry and local market expertise, a broad geographic presence, and a comprehensive range of financing and advisory solutions. Our services include corporate, syndicated and project finance, and cover loan and debt capital markets, that address both industry and client needs.
In India, Mizuho has had a presence for some three decades and is currently represented by several group companies. Mizuho operates as a leading corporate and investment bank servicing large enterprises, multinationals and Japanese corporations doing business in the country. Through its five branches and GIFT City unit, Mizuho is widely recognized for cross border financing, corporate lending, project finance and trade services. Additionally, in December 2025, Mizuho Financial Group announced that Mizuho Securities Co., Ltd. had agreed to acquire a stake of over 60% in Avendus Capital Private Limited, an Indian investment bank, subject to regulatory approvals.