Latest news with #SumitomoMitsuiFinancialGroupInc.
15-05-2025
- Business
3 Major Japan Banks Log Record Net Profits for 2nd Year
News from Japan Economy May 15, 2025 18:53 (JST) Tokyo, May 15 (Jiji Press)--The combined net profit of three major Japanese banking groups in fiscal 2024 grew 25.3 pct from the previous year to 3,926.3 billion yen, hitting a record high for the second straight year. The three groups--Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc.--saw their earnings boosted by improved margins and gains on sales of equities and other assets, thanks to higher interest rates following policy rate hikes by the Bank of Japan. Revenues linked to deposits and loans went up on the back of increased lending amid robust corporate activity. The banking groups also sold off cross-held shares ahead of schedule amid high stock prices, and each logged their respective record net profits. END [Copyright The Jiji Press, Ltd.] Jiji Press
Bloomberg
06-05-2025
- Business
- Bloomberg
SMFG Is Said in Talks to Buy Minority Stake in India's Yes Bank
Sumitomo Mitsui Financial Group Inc., Japan's second-biggest lender, is in talks to buy a significant minority stake in India's Yes Bank Ltd., according to people familiar with the matter. A potential offer for a stake in the Mumbai-based bank will likely going to be determined by market prices, the people said, asking not to be identified because the deliberations are private. Talks are ongoing and may not result in a deal, the people said.
Bloomberg
07-02-2025
- Business
- Bloomberg
SMFG and SBI Said to Be Planning JV for Japan's Emerging Rich
Sumitomo Mitsui Financial Group Inc. and SBI Holdings Inc. are considering teaming up to start a business that will provide digital wealth management services for customers that aren't the richest in Japan but still prosperous, people familiar with the matter said. The plan is for the new joint venture to be funded by two SMFG firms, Sumitomo Mitsui Banking Corp. and SMBC Nikko Securities Inc., and SBI Securities Co., part of the Tokyo-based SBI financial group, said the people, who asked not to be identified discussing matters that aren't public. Details such as investment amount and how that will be split up are being finalized, and the new company may be announced as early as the end of March.
