Sumitomo Mitsui CEO to Weigh Targets After Year of Acquisitions.

Sumitomo Mitsui CEO to Weigh Targets After Year of Acquisitions.
After spending more than $3.3 billion on deals in Asia this year, Sumitomo Mitsui Financial Group Inc.
Chief Executive Officer Jun Ohta said he’s far from completing his ambitions in the region and will weigh more transactions in the future.
“We will consider if there are good targets,” he said in an interview.
“Our ultimate goal is to create a second and third SMBC Group.
We just lack everything,” he added, using its preferred name for the banking conglomerate.
To stay up to date with latest top stories, make sure to subscribe to this YouTube channel by clicking the button above this video!
The boss of Japan’s second-largest lender is seeking to broaden services across Asia, acquiring commercial banks and consumer-finance companies with a focus on four countries: Indonesia, India, Vietnam and the Philippines.
Faced with weak growth prospects at home, Japan’s top banks are building on footholds overseas.
In the U.S., Ohta said Sumitomo Mitsui’s strategic alliance with Jefferies Financial Group Inc.