SMFG

AcronymDefinition
SMFGSumitomo Mitsui Financial Group (Japan)
SMFGSystem Management Functional Group
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References in periodicals archive ?
SMFG, like other Japanese lenders, has been stepping up overseas investments in the past few years as it continues to face razor-thin margins at home amid an ageing population and massive central bank stimulus.
Fitch believes the capital commitment will support SMBC AC's growth aspirations and further strengthens the view that the company is a strategically important subsidiary of SMFG.
The progress of Indonesian lender BTPN's merger with Japan-based SMFG's local unit is moving ahead slowly.
SMFG is one of many Japanese institutions preferring to locate within the EU.
SMFG, with total assets of approximately $1.7 trillion, is the third largest banking organization in Japan.
"Olympus may not care, institutional investors led by SMBC (a unit of SMFG), the puppet master of this situation, they may not care, but it damages Japan," Woodford said.
SMFG left its earnings estimates unchanged for the whole of fiscal 2011 ending March.
Under the agreed terms, SMFG will take 70% of RBS Aviation Capital, while Sumitomo will buy the other 30%, the buyers said.Country: UK, Ireland, Sector: Air Transport, Banking/Financial ServicesTarget: RBS Aviation CapitalBuyer: Sumitomo Corp, Sumitomo Mitsui Financial Group IncVendor: Royal Bank of Scotland Group PlcType: Corporate acquisitionStatus: AgreedComment: Target's assets valued at USD7.2bn, while value of deal speculated at USD7.3bn.
Resona Bank and Saitama Resona Bank have suspended ATMs at nearly 480 non-branch locations on Tuesday, with the Sumitomo Mitsui Financial Group Inc (SMFG) retail arm taking ATMs at about 360 locations offline.
Sumitomo Mitsui Financial Group (SMFG) will buy Citigroup's Japanese broker and key investment banking units for $5.9 billion and look to form a financial services powerhouse through an alliance with Daiwa Securities Group.