International Finance Corporation has signed an agreement to invest up to $500 million in PT Bank BTPN Tbk through a social bond and green bond issuance.
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TOKYO (Reuters) - Japan’s second-largest lender Sumitomo Mitsui Financial Group Inc is eager to buy a commercial bank in Indonesia, its chief executive said, after a “painful” defeat last year in vying for mid-sized lender PT Bank Permata.
FILE PHOTO: A sign board of Sumitomo Mitsui Banking Corporation, part of Sumitomo Mitsui Financial Group Inc (SMFG), is seen outside its branch in Tokyo July 30, 2014. REUTERS/Yuya Shino
The comment by CEO Jun Ohta comes as Japanese banks have been struggling with ultra-low interest rates at home, with SMFG seeking opportunities outside Japan, particularly in Southeast Asia.
Speaking with Reuters, Ohta said there would be no significant changes in his strategy in Asia even after the COVID-19 outbreak, as he still expects the region to show stronger economic growth.
Sumitomo Mitsui Financial keen to buy commercial bank in Indonesia 22 Dec 2020 / 00:56 H.
TOKYO: Japan s second-largest lender Sumitomo Mitsui Financial Group Inc (SMFG) is eager to buy a commercial bank in Indonesia, its chief executive said, after a painful defeat last year in vying for mid-sized lender PT Bank Permata.
The comment by CEO Jun Ohta (
pix) comes as Japanese banks have been struggling with ultra-low interest rates at home, with SMFG seeking opportunities outside Japan, particularly in Southeast Asia.
Speaking with Reuters, Ohta said there would be no significant changes in his strategy in Asia even after the Covid-19 outbreak, as he still expects the region to show stronger economic growth.