Bank of Baroda and Mizuho Bank have entered into a strategic partnership aimed at expanding collaboration in mergers and acquisitions (M&A) financing, structured lending, cross-border financing solutions, and corporate and investment banking services.
The partnership was announced in Mumbai on June 30.
It brings together Mizuho Bank’s international network and structured finance capabilities with Bank of Baroda’s domestic corporate banking presence and market reach in India.
According to the announcement, the two banks will work together on acquisition finance transactions, including joint origination, structuring, co-underwriting and syndication. The collaboration will also cover selected M&A advisory assignments, secondary risk distribution arrangements, and ancillary banking services such as foreign exchange and interest rate hedging, as well as escrow-related services.
The agreement also includes plans for knowledge-sharing and capacity-building initiatives focused on acquisition finance underwriting, transaction structuring and inter-creditor arrangements.
Lalit Tyagi, Executive Director, Bank of Baroda, said the partnership comes at a time when Indian companies are pursuing mergers, acquisitions and strategic investments amid consolidation across sectors driven by infrastructure growth, digital transformation and energy transition initiatives.
Piyush Agarwal, Senior Managing Director and India Co-country Head, Mizuho Bank, said India remains a key strategic market for the Japanese financial group and highlighted the banks’ existing relationship and shared focus on cross-border financing opportunities.
Mizuho Financial Group is among Japan’s largest financial institutions, with operations across multiple international markets. The group has maintained a presence in India for around three decades through several group companies and currently operates five branches and a unit in Gujarat International Finance Tec-City (GIFT City).
In December 2025, Mizuho Financial Group announced that its securities arm, Mizuho Securities Co., Ltd., had agreed to acquire a majority stake in Indian investment bank Avendus Capital Private Limited, subject to regulatory approvals.
Founded in 1908, Bank of Baroda is one of India’s major public sector banks and is majority-owned by the Government of India. The bank serves customers across 15 countries through physical and digital banking channels.