SMBC

SMBC

Reading Time: 1 minute

Japan’s third-biggest financial group, Sumitomo Mitsui Financial Group, took a $1 billion stake in Barclays in June. With minimal subprime losses and cash to spend, Sumitomo Mitsui probably has more deals ahead. In September, the bank considered taking a stake in Goldman Sachs (GS). It has enjoyed a close relationship with Goldman since the mid-1980s, when the U.S. bank took a stake in SMFG forerunner Sumitomo Bank, but so far no deal has been forthcoming.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid