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Sumitomo Mitsui Financial Group, Inc American Depositary Shares (each representing 3/5th of a share of - SMFG STOCK NEWS

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Sumitomo Mitsui Financial Group, Inc. (SMFG) operates as a leading financial holding company and ranks among Japan's top financial services providers. SMFG engages in the comprehensive management of its subsidiaries, which deliver a wide array of financial services.

As Japan's second-largest bank, tied with Mizuho Financial Group and following Mitsubishi UFJ Financial Group, SMFG holds a significant market share of 7.1% in domestic loans as of March 2023. The company is particularly notable for its substantial consumer finance business, fully owning the Promise business and SMBC Card.

SMFG's reach extends into various financial sectors, including leasing through one of Japan's largest leasing companies and aircraft leasing via SMBC Aviation Capital, which is among the top five aircraft lessors globally.

In the securities domain, SMFG's SMBC Nikko unit stands as Japan's third-largest retail broker, although the company is striving to match its competitors in institutional securities and asset management.

The group's latest news highlights ongoing business developments and collaborations, such as partnerships with other financial institutions, strategic acquisitions, and expansion efforts to strengthen its market position.

News

SMBC Hires Paul Burke to Lead New Capital Solutions Group

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Sumitomo Mitsui Banking Corporation (SMBC) announced that Paul Burke has joined the firm to lead a newly created Capital Solutions Group. Based in New York, Paul will work across the SMBC Americas Division banking businesses to evolve balance sheet optimization strategies, while advising clients on loan portfolio and capital optimization transactions, with a focus on financial institutions and sponsor clients. With more than 20 years of industry experience, Paul joins SMBC from Morgan Stanley where he spent over 12 years working in both New York and London.
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Jenius Bank™ Unveils New Savings Account Product, Fueling More Positive Financial Futures

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Jenius Bank, the digital division of Manufacturers Bank, announced the launch of its latest offering - the Jenius Bank Savings Account. This new product is designed to empower customers to achieve their financial goals with greater ease and flexibility, offering a market-leading rate and key features such as no minimum balance requirement, FDIC insured funds, around-the-clock customer service, and no fees. The launch follows the recent launch of Jenius Bank Personal Loans, demonstrating the rapid growth of the new digital bank.
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ITE Management L.P. Affiliate Agrees to Acquire SMBC Rail Services

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Sumitomo Mitsui Financial Group and ITE Management L.P. have announced that an affiliate of ITE will acquire SMBC Rail Services LLC from SMBC Americas Holdings, Inc. The railcars and certain other assets of SMBC RS will be transferred to American Industrial Transport, Inc. This acquisition will add over 50,000 railcars to AITX’s fleet and enable AITX to create significant incremental value for customers, employees, and stakeholders.
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SMBC Opens Representative Office in Washington D.C. as Growth in U.S. Deepens

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Sumitomo Mitsui Banking Corporation (SMBC) has announced the opening of a representative office in Washington, D.C. to strengthen its ties with key stakeholders in the U.S. capital. The bank has also made key hires, including Randy Ross as Head of Government Affairs and Public Policy, and Althea Pieters as Head of Regulatory Strategy. The office will be operational in October 2023.
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Manufacturers Bank Announces Plans to Rebrand as SMBC MANUBANK

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Manufacturers Bank, a subsidiary of SMBC Americas Holdings, will be changing its name to SMBC MANUBANK as it expands into new markets and industries. The bank launched Jenius Bank, a digital division catering to U.S. consumers nationwide. The rebranding demonstrates commitment to building strong client and community relationships. Ownership, management, and operations of the bank will remain unchanged.
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SMBC and LarrainVial Announce First Close of $200 million Colombian Infrastructure and Renewable Energy Debt Fund

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Sumitomo Mitsui Banking Corporation and LarrainVial have announced the first close of a new debt fund that will provide Colombian peso-denominated loans for infrastructure and renewable energy projects in Colombia. The total fund size is up to COP900 billion (approximately $200 million). The debt will help finance private and public projects ranging from transportation and telecom to water, wind farms, schools, and hospitals, while meeting the investment needs of institutional investors in Colombia.
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SMBC Capital Markets Appoints Marc Mansourian Head of Derivatives Marketing

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SMBC Capital Markets appoints Marc Mansourian as Head of Derivatives Marketing to further develop its Americas sales and trading business. Marc will lead a team providing strategic rates and FX risk solutions for corporate, sponsor, and project finance clients.
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Jenius Bank™ Launches Inaugural Product, Personal Loans

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SMBC Appoints Matthew Grinnell Head of Global Sponsor Coverage

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Jefferies and SMBC Expand and Strengthen Strategic Alliance, Broadening Joint Business Efforts and Increasing SMBC’s Equity Ownership in Jefferies

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Jefferies Financial Group (NYSE: JEF) and Sumitomo Mitsui Financial Group (NYSE: SMFG) have expanded their strategic alliance to enhance investment banking services, including M&A and U.S. equities. This collaboration aims to improve client offerings through combined resources. SMBC intends to increase its economic ownership in Jefferies to up to 15% by purchasing shares, enhancing its role in Jefferies' governance with a designated board member. The partnership follows a $2.25 billion financing from SMBC in 2021, which has led to a total commitment of approximately $3.4 billion. The companies expect the expanded alliance to better serve their clients and leverage their sector expertise.

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FAQ

What is the current stock price of Sumitomo Mitsui Financial Group American Depositary Shares (each representing 3/5th of a share of (SMFG)?

The current stock price of Sumitomo Mitsui Financial Group American Depositary Shares (each representing 3/5th of a share of (SMFG) is $14.07 as of December 20, 2024.

What is the market cap of Sumitomo Mitsui Financial Group American Depositary Shares (each representing 3/5th of a share of (SMFG)?

The market cap of Sumitomo Mitsui Financial Group American Depositary Shares (each representing 3/5th of a share of (SMFG) is approximately 92.2B.

What services does Sumitomo Mitsui Financial Group, Inc. offer?

SMFG provides a wide range of financial services through its subsidiaries, including consumer finance, leasing, securities, and aircraft leasing.

How does SMFG rank among Japan's banks?

SMFG is Japan's second-largest bank, tied with Mizuho Financial Group and following Mitsubishi UFJ Financial Group.

What is SMFG's market share in domestic loans?

As of March 2023, SMFG's market share in domestic loans is 7.1%.

What are some key subsidiaries of SMFG?

Key subsidiaries include Promise, SMBC Card, SMBC Leasing, SMBC Aviation Capital, and SMBC Nikko.

What is SMBC Aviation Capital known for?

SMBC Aviation Capital is one of the top five aircraft lessors globally.

What is the role of SMBC Nikko in SMFG?

SMBC Nikko is Japan's third-largest retail broker and a significant unit within SMFG's securities segment.

How is SMFG expanding its market position?

SMFG is strengthening its market position through strategic acquisitions, partnerships with other financial institutions, and expanding its services.

What is the significance of the Promise business and SMBC Card in SMFG?

The Promise business and SMBC Card are crucial to SMFG's strong presence in the consumer finance sector.

How does SMFG compare in consumer finance with other megabanks?

SMFG has a larger consumer finance business than its peers, Mizuho Financial Group and Mitsubishi UFJ Financial Group.

What recent achievements has SMFG made?

Recent achievements include expanding its market share, strategic partnerships, and continuing to lead in various financial sectors.

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Sumitomo Mitsui Financial Group, Inc American Depositary Shares (each representing 3/5th of a share of

NYSE:SMFG

SMFG Rankings

#129 Ranked by Market Cap
#940 Ranked by Dividends

SMFG Stock Data

92.23B
6.52B
0%
1.5%
0.06%
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