Latest news with #SumitomoMitsuiFinancialGroup
Yahoo
15-07-2025
- Business
- Yahoo
Sumitomo Mitsui Financial (SMFG) Invests Big in AI and Digital Growth
Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) is one of the 13 Best Japanese Stocks to Buy According to Hedge Funds. On July 8, Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) announced the appointment of Mr. Ahmed Jamil Mazhari to lead transformation efforts aimed at speeding up the company's AI strategy and integration across the group. In partnership with Mr. Mazhari, Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) also plans to create a new company in Singapore focused on agentic AI solutions. This new company will first serve the group as 'customer zero' before offering its services to other clients and expanding to the broader market. A corporate lawyer explaining the terms of a contract to a customer in a contemporary office. To support its digital transformation, Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) has committed an initial IT investment of JPY 800 billion. Out of this, JPY 50 billion has been specifically set aside for generative AI efforts until the next medium-term management plan. Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) is a Japanese financial services group and holding company. While we acknowledge the potential of SMFG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Business Times
15-07-2025
- Business
- Business Times
SMFG said to eye US$1.1 billion additional investment in Yes Bank: sources
[MUMBAI] Sumitomo Mitsui Financial Group (SMFG) is considering making an additional US$1.1 billion investment in Indian lender Yes Bank, people familiar with the matter said, following a previous investment made by Japan's second-biggest bank two months ago. SMFG is seeking to acquire about 5 per cent of Yes Bank shares from US investment fund Carlyle Group and other minority shareholders, the people said, asking not to be identified because the deliberations are private. SMFG may also buy about US$680 million in convertible bonds issued by Yes Bank to help boost growth, the people said. The fresh investment would bring the total amount to US$2.7 billion, giving SMFG a roughly 25 per cent stake in Yes Bank, the people said. Considerations are ongoing and no final decisions have been made, they said. A spokesman for Sumitomo Mitsui Banking, the banking unit of SMFG, declined to comment. A representative for Carlyle declined to comment, while Yes Bank did not immediately respond to a request seeking comment. Yes Bank shares have gained about 2.1 per cent this year, giving the bank a market value of about US$7.3 billion. SMFG in May agreed to acquire a 20 per cent stake in Yes Bank for about US$1.6 billion. For Japan's second-biggest lender, Yes Bank represents an opportunity to own a sizeable stake in a large Indian firm. Yes Bank has made a steady turnaround following a rescue by the central bank in 2020 when it was inundated with bad loans, and SBI had to inject new capital with other parties. Sumitomo Mitsui and its Japanese peers have been sealing deals in India. It spent US$700 million in March last year to take full control of the local company formerly known as Fullerton India Credit after first buying a US$2 billion stake in 2021. The unit specialises in housing and car loans. BLOOMBERG
CNA
15-07-2025
- Business
- CNA
Japan's SMFG eyes $1.1 billion investment in India's Yes Bank, Bloomberg News reports
Japan's Sumitomo Mitsui Financial Group is mulling a $1.1 billion investment in India's Yes Bank, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Mint
15-07-2025
- Business
- Mint
YES Bank shares surge 3% after report of SMFG eyeing $1.1 bn investment, 5% stake buy
YES Bank share price jumped over 3 percent in intra-day deals on Tuesday, July 16 after Sumitomo Mitsui Financial Group (SMFG) is reportedly considering an additional investment of $1.1 billion in the private sector lender, according to media reports. As part of this potential move, SMFG may also acquire approximately $680 million worth of convertible bonds. Additionally, the Japanese financial giant is said to be exploring the purchase of a 5 percent stake in Yes Bank from existing shareholders such as Carlyle and others. This development underscores SMFG's growing interest in expanding its footprint in India's banking sector through strategic investments in one of the country's leading private lenders.
.JPG%3Fwidth%3D780%26fit%3Dcover%26gravity%3Dfaces%26dpr%3D2%26quality%3Dmedium%26source%3Dnar-cms%26format%3Dauto&w=3840&q=100)
Nikkei Asia
13-07-2025
- Business
- Nikkei Asia
Japan's top banks draw closer to art world with eye on surging market
Finance Wealthy Japanese buyers show renewed interest as hedge against inflation Sumitomo Mitsui Financial Group held an art exhibition at one of its office buildings near Tokyo Station from the end of May to mid-June. (Sumitomo Mitsui Financial Group) KENICHI ONOZAWA TOKYO -- The top three Japanese banking groups are getting more involved in art, hosting exhibitions to deepen ties with the sector and exploring ways to use art in financial services. Sumitomo Mitsui Financial Group was one of the first big Japanese banks to focus on art, launching a dedicated team in November 2021. In addition to sponsoring fairs and providing opportunities to promote art, it is supporting the management of works owned by customers.
