Sumitomo Mitsui Financial Group, Japan’s second largest bank by
market value, will expand its services to other Asian countries to
attract affluent clients.
The bank’s president, Teisuke Kitayama, said that the bank will
primarily focus on retail banking services in China, Indonesia and
Thailand.
Go deeper with GlobalData
The bank, which already operates in Vietnam, said it is
currently looking into opportunities in other Asian markets.
Kitayama has focused on expanding Sumitomo
Mitsui Financial Group’s business abroad since he became president
in 2005.
The bank also targets other areas of banking,
including investment banking via its brokerage arm Nikko Cordial
Securities, purchased from Citigroup, and its ownership of Hong
Kong-based Bank of East Asia.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
