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SMFG weighs acquiring Asia banks to use some of $12 billion surplus capital

Reuters  |  TOKYO 

By Taiga UranakaTOKYO (Reuters) - 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."In Asia, we would like to do full banking services including retail business in countries with economic growth potential," Takeshi Kunibe said in an interview.SMFG has been trying to build a bigger presence in emerging Asia economies, which it hopes will become its next major market besides Japan. In Indonesia, SMFG is ...

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First Published: Tue, December 25 2018. 21:10 IST