TOKYO Sumitomo Mitsui Financial Group (SMFG) aims to expand its business in Asia and is looking at the Philippines, India and Myanmar for possible future investment, the CEO of Japan's second-largest bank by assets said.
TOKYO, May 15 Sumitomo Mitsui Financial Group
Inc (SMFG) on Wednesday posted a 1% decline in net
profit for the year through March, and flagged a further
decrease this year reflecting the chronic battle for Japanese
banks as face ultra-loose monetary policy.
TOKYO Sumitomo Mitsui Financial Group (SMFG) wants to acquire Asian commercial banks, utilising some of the up to $12 billion in surplus capital that Japan's third-largest lender expects to build up over the next five years, its chief executive said.