Japanese banks take on strategic roles
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09/07/2021
09:53
GMT+7
Given their financially sound cornerstone and professional know-how, Japanese megabanks are actively exploring sensible bolt-on opportunities of banks in Southeast Asia, including Vietnam, as a critical part of their international market expansion.
MUFG has been working in collaboration with VietinBank for years. VIR photo: Le Toan
Japan’s Sumitomo Mitsui Banking Corporation (SMBC), the banking arm of Sumitomo Mitsui Financial Group (SMFG) was last week reported to have acquired a 5 per cent stake in Philippines-based lender Rizal Commercial Banking Corp (RCBC), equivalent to around $93.9 million.