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Indonesia reveals executives chosen to run new wealth fund

Ridha Wirakusumah was named CEO of Indonesia's new wealth fund, which will invest in local projects from infrastructure to health care. ....

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Sumitomo Mitsui Financial Group shows interest in acquiring bank in Asia

Sumitomo Mitsui Financial Group is allegedly going to acquire Asian banks in Vietnam, the Philippines, or India.
Vietnam is in the mix for the potential choices considered by Sumitomo Mitsui Financial Group for its bank acquisition
Japanese megabank Sumitomo Mitsui Financial Group Inc. (SMFG) is allegedly planning to acquire an Asian lender, specifically in Vietnam, the Philippines, and India. Accordingly, the bank will co-operate with a global investment bank on USÂ dealmaking activities, according to
Bloomberg.
According to SMFG CEO Jun Ohta, the banking giant is seeking a partner to underwrite equity and bond sales in the USÂ and elsewhere, after the lender was unable to fully take advantage of a corporate financing boom this year. ....

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Japan's SMFG keen to buy bank in Indonesia after losing Permata bid last year

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Japan's SMFG eyes buying bank in Indonesia after 'painful' defeat last year

2 Min Read
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. ....

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Sumitomo Mitsui Financial keen to buy commercial bank in Indonesia

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. ....

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