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27.05.25 - 17:36
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SMFG′s 20% stake in Yes Bank may set precedent for foreign investment: Fitch (Times of India)
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Sumitomo Mitsui Financial Group's potential acquisition of a 20% stake in Yes Bank could reshape foreign investment in Indian private banks, potentially leading to greater foreign participation. Fitch Ratings suggests the deal, pending RBI approval, might set a precedent for similar transactions, as current regulations limit foreign investors' voting rights and direct investments....
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15.05.25 - 12:12
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3 Major Japan Banks Log Record Net Profits for 2nd Year (Nippon)
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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 ......
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15.05.25 - 04:36
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Sumitomo Mitsui Financial′s Net Profit Tops 1 T. Yen (Nippon)
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Tokyo, May 15 (Jiji Press)--Sumitomo Mitsui Financial Group Inc. said Wednesday that its consolidated net profit rose 22.3 pct to 1,177.9 billion yen in the year ended last March from the previous year, topping 1 trillion yen for the first time in its history. The Japanese banking group saw its lending margins improve because of higher interest rates. Its bottom line was also boosted by gain......
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14.05.25 - 07:48
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Sumitomo Mitsui, SoftBank to Tie Up on Digital Payment Services (Nippon)
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Tokyo, May 14 (Jiji Press)--Sumitomo Mitsui Financial Group Inc. and mobile carrier SoftBank Corp. will collaborate in the field of digital payment services, it was learned Wednesday. Under the partnership, the PayPay smartphone payment service, provided by a SoftBank affiliate, will be made available via the Olive general financial app, provided by Sumitomo Mitsui Banking Co., the core unit......
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10.05.25 - 07:01
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Sumitomo Mitsui Financial to Acquire Stake in Indian Bank (Nippon)
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Tokyo, May 10 (Jiji Press)--Sumitomo Mitsui Banking Corp. will spend 134.8 billion Indian rupees to acquire a 20 pct stake in Yes Bank, an Indian commercial bank, Sumitomo Mitsui Financial Group Inc., the parent of the Japanese bank, said Friday. The Japanese bank will send two executives to sit on Yes Bank's board of directors. Yes Bank, founded in 2003 and based in Mumbai, is the six-la......
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