SMFG
Sumitomo Mitsui Financial Group, Inc.NYSE
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  • Wed, Sep. 21, 1:00 PM
    | Wed, Sep. 21, 1:00 PM
  • Sun, Aug. 14, 1:16 PM
    • Japan's financial watchdog estimates that negative interest rates under the BOJ's monetary easing policy will reduce profits for the country's three big banks - Mitsubishi UFJ Financial (NYSE:MTU) , Sumitomo Mitsui (NYSE:SMFG) and Mizuho Financial (NYSE:MFG) - by at least $3B for the year through March 2017, the Nikkei reports.
    • The BOJ implemented negative interest rates in February in a bid to boost the economy, under which it charges banks for parking some of their excess reserves at the central bank.
    | Sun, Aug. 14, 1:16 PM | 12 Comments
  • Fri, Jul. 29, 1:00 PM
    | Fri, Jul. 29, 1:00 PM
  • Tue, Feb. 16, 9:13 AM
    | Tue, Feb. 16, 9:13 AM | 1 Comment
  • Fri, Jan. 22, 10:43 AM
    • Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG): 1H16 EPS of ¥324.86
    • Net interest income of ¥710.98B (+1.5% Y/Y)
    | Fri, Jan. 22, 10:43 AM
  • Dec. 15, 2015, 3:27 AM
    • After scooping up its European P-E financing business in June, Sumitomo Mitsui Financial Group (NYSE:SMFG) has agreed to buy General Electric's (NYSE:GE) Japanese leasing business for $4.8B.
    • The deal is part of the conglomerate's plan to sell off about $200B of GE Capital assets (a move it hopes to largely complete by end-2016), as it distances itself from finance to focus on its industrial roots.
    • Previously: GE sheds more finance assets (Dec. 09 2015)
    | Dec. 15, 2015, 3:27 AM | 1 Comment
  • Dec. 9, 2015, 12:08 PM
    • The company is nearing a deal to sell its Japanese commercial-lending operation to the leasing arm of Sumitomo Mitsui Financial Group (NYSE:SMFG) for $4.7B, according to the WSJ. A month ago, it had been reported the potential buyers had been narrowed to two.
    • Japan's 2nd-largest bank by market cap, SMGF a few months back purchased GE's European P-E financing business for roughly $2.2B.
    • Previously: GE to sell Hyundai Capital stake (Dec. 9)
    | Dec. 9, 2015, 12:08 PM | 7 Comments
  • Nov. 16, 2015, 2:57 AM
    • The race to buy General Electric's (NYSE:GE) Japanese commercial-lending operation is nearing the finish line with two bidders remaining, sources told WSJ.
    • The leasing arm of Sumitomo Mitsui Financial Group (NYSE:SMFG) and Shinsei Bank (OTCPK:SKLKY) submitted binding bids earlier this month and both will continue discussions for the business valued at nearly $5B.
    • Media reports on Friday said GE was set to enter into exclusive talks with SMFG.
    | Nov. 16, 2015, 2:57 AM
  • Nov. 13, 2015, 2:56 AM
    • Sumitomo Mitsui Financial Group (NYSE:SMFG) is set to enter exclusive talks to buy General Electric's (NYSE:GE) Japan leasing business, the Nikkei reports, stating that SMFG's offer values the business at under ¥600B ($4.9B).
    • As part of its global plan to unwind its financing division, GE placed the unit up for sale earlier this year, and several Japanese financial institutions expressed interest.
    | Nov. 13, 2015, 2:56 AM | 3 Comments
  • Nov. 9, 2015, 4:24 AM
    • The Financial Stability Board has published new rules that aim to stop banks from becoming "too big to fail," confirming its final proposals for Total Loss Absorbing Capacity, or TLAC.
    • Under the plan, large lenders will have by January 2019 to hold a financial cushion of at least 16% of their risk-weighted assets in equity and debt that can be written off. That requirement will gradually increase, reaching 18% of assets weighted by risk by January 2022.
    • The FSB will put the rules, which will apply to the world's top 30 banks, to the G20 later this month.
    | Nov. 9, 2015, 4:24 AM | 219 Comments
  • Sep. 4, 2015, 7:11 AM
    • Japanese megabanks were among those to make offers for General Electric's (NYSE:GE) Japanese commercial finance operations today.
    • Bidders included Orix (OTC:ORXCF) and the leasing units of Sumitomo Mitsui Financial Group (NYSE:SMFG), Mitsubishi UFJ Financial Group (NYSE:MTU) and Sumitomo Mitsui Trust Holdings (OTCPK:SUTNY).
    • The banks will conduct due diligence over the next several weeks and determine the value of the operations, with the price likely to be several billion dollars.
    | Sep. 4, 2015, 7:11 AM | 4 Comments
  • Jun. 23, 2015, 7:22 AM
    • Sumitomo Mitsui Financial Group (NYSE:SMFG) has expressed interested in General Electric's (NYSE:GE) U.S. railway-leasing business, as the latter continues to sell the bulk of its financial services division.
    • GE Capital Rail Services, which could be worth around $4B, also has drawn interest from Wells Fargo (NYSE:WFC) and other U.S. financial institutions.
    • Source: WSJ
    | Jun. 23, 2015, 7:22 AM | 6 Comments
  • Mar. 31, 2015, 6:54 AM
    • Citigroup (NYSE:C) has agreed to sell its Japanese credit card unit to Sumitomo Mitsui Trust Bank (OTCPK:SUTNY), as it trims its global operations to bolster profitability.
    • The price of Citi Cards Japan was not disclosed, but local media reported the deal valued at around ¥40B ($335M).
    • In December, Citigroup announced it was selling its Japanese retail banking operations to SMFG unit Sumitomo Mitsui Banking Corp.
    | Mar. 31, 2015, 6:54 AM | 1 Comment
  • Dec. 25, 2014, 3:14 AM
    • Sumitomo Mitsui (NYSE:SMFG) has announced that it will buy Citigroup's (NYSE:C) Japanese retail banking operations to expand services for wealthy individuals in the country.
    • The deal, which includes ¥2.4T ($20B) in deposits, 740K customers and 32 branches, is expected to close in October.
    • Previously: Timeline disclosed for SMBC, Citi deal (Dec. 24 2014)
    | Dec. 25, 2014, 3:14 AM | 4 Comments
  • Dec. 24, 2014, 2:30 AM
    • Sumitomo Mitsui (NYSE:SMFG) will buy Citigroup's (NYSE:C) Japanese retail banking operations in October for about ¥40B ($332M), Reuters reports, outlining a date for the long-awaited sale. Sumitomo Mitsui will announce the deal tomorrow.
    • Citi is looking to exit 11 consumer-banking markets with poor returns, including Japan, as it looks to focus on corporate and investment banking, markets and transaction services.
    | Dec. 24, 2014, 2:30 AM | 3 Comments
  • Dec. 9, 2014, 3:04 AM