Sep. 12, 2014, 6:43 AM
- As banks weigh in their bids for Citigroup's (NYSE:C) Japanese retail banking operations, the U.S. bank announced that it was looking to sell its Japanese Diners Club card business along with the unit.
- Citigroup's Japanese retail business has some 3.6T yen ($33.6B) in deposits, of which almost 2T yen is dollar-denominated, attracting Japanese banks seeking foreign currencies.
- Ten banks, including Mitsubishi UFJ Financial (NYSE:MTU), Mizuho Financial (NYSE:MFG), Sumitomo Mitsui Financial (NYSE:SMFG), Resona (OTCPK:RSNHF), Sumitomo Mitsui Trust (OTCPK:SUTNY) and Shinsei Bank (OTCPK:SKLKY) have all submitted preliminary bids.
Oct. 16, 2012, 3:39 AM
Japanese banks Sumitomo Mitsui (SMFG) and Mitsubishi UFJ (MTU) are spreading the financial love this week: along with Resona, they're providing Panasonic (PC) with $7.6B of loan commitments, allowing the electronics giant to avoid having to raise money in the markets. Sumitomo and Mitsubishi are also reportedly helping Softbank finance its $20.1B acquisition of Sprint.| Oct. 16, 2012, 3:39 AM
Feb. 28, 2012, 7:15 PM
Dec. 6, 2011, 7:25 PM