Japan's SMFG to buy 74.9% stake in Fullerton India for $2 billion1 min read . Updated: 06 Jul 2021, 11:09 AM IST
- Japan’s second-largest lender will eventually acquire the rest of the Indian credit firm from Fullerton Financial Holdings Pte at a later stage, it said in a statement Tuesday
Sumitomo Mitsui Financial Group Inc, Japan's second largest lender by assets, said on Tuesday it would buy a 74.9% stake in Fullerton India for $2 billion, as the bank expands its business elsewhere in Asia amid low interest rates at home, marking the first entry into the South Asian country’s retail financial business by a Japanese bank.
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