Japan's Smfg To Buy 74.9% Stake In Fullerton India For $2.7 Billion, Companies & Markets News & Top Stories - The Straits Times
July 06, 2021 4:59 PMThis marks the first major foray by a Japanese bank into India during recent times. : TOKYO (REUTERS) - Sumitomo Mitsui Financial Group, Japan's second-largest lender by assets, said on Tuesday (July 6) it would buy a 74.9 per cent stake in Fullerton India for US$2 billion (S$2.7 billion), marking the first major foray by a Japanese bank into India during recent times. Given a slow-growing domestic market, Japanese banks including SMFG have sought business opportunity outside the country, which faces an ageing and shrinking population.
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