Latest news with #SumitomoMitsuiFinancialGroupInc
Time of India
15-07-2025
- Business
- Time of India
Yes Bank shares rally 3% driven by reports of $1.1 billion additional investment from SMFG
Yes Bank shares gained 3.3% on Tuesday to reach the day's high of Rs 20.65 on the BSE, following reports of a potential major investment from Sumitomo Mitsui Financial Group Inc. ( SMFG ). The increase in the stock price comes as SMFG is reportedly looking to inject an additional $1.1 billion into the Indian lender, a move that could strengthen Yes Bank's position in the market. The deal involves SMFG acquiring approximately 5% of Yes Bank's shares from Carlyle Group Inc. and other minority stakeholders. Additionally, the Japanese financial group is considering purchasing $680 million worth of convertible bonds from Yes Bank to further bolster the lender's growth prospects. This fresh round of investment would increase SMFG's total stake in Yes Bank to approximately 25%, building on its previous $1.6 billion acquisition of a 20% stake in May. According to the Bloomberg report, discussions are still ongoing, and no final decisions have been made as of yet. These developments follow a series of investments by SMFG and other Japanese financial entities in Indian companies, including a $700 million acquisition last year in Fullerton India Credit Co., which further highlights Japan's growing interest in India's financial sector. Yes Bank share price history Over the past 1 year, the price has declined by 23.39%. Year-to-date (YTD), it has gained 2.95%. In the last 6 months, the price rose by 12.40%, while the 3-month gain stood at 15.35%. Over the past 1 month, the change was a modest 0.25%. Also read: Tejas Networks shares slump 10% to 52-week low as co swings to Rs 194 cr loss in Q1 from year-ago profit Yes Bank share price target According to Trendlyne, 12 analysts cover Yes Bank, with a 1-year target price of Rs 17 for the stock. Among these analysts, 8 have a "strong sell" recommendation, 2 suggest a "sell," and 2 advise a "hold."
15-05-2025
- Business
Sumitomo Mitsui Financial's Net Profit Tops 1 T. Yen
News from Japan Economy May 15, 2025 11:26 (JST) Tokyo, May 15 (Jiji Press)--Sumitomo Mitsui Financial Group Inc. said Wednesday that its consolidated net profit rose 22.3 pct to 1,177.9 billion yen in the year ended last March from the previous year, topping 1 trillion yen for the first time in its history. The Japanese banking group saw its lending margins improve because of higher interest rates. Its bottom line was also boosted by gains on the sale of cross-shareholdings. Sumitomo Mitsui became the second Japanese banking group to post a full-year net profit of over 1 trillion yen, following Mitsubishi UFJ Financial Group Inc. For the ending in March 2026, Sumitomo Mitsui expects its net profit to increase to 1.3 trillion yen, still about 100 billion lower than its forecast as of March. The company lowered the forecast because of the possible impact of U.S. President Donald Trump's high tariffs on financial markets and corporate earnings. Sumitomo Mitsui has already started to see some impact on its business, Group CEO Toru Nakashima said at a press conference. [Copyright The Jiji Press, Ltd.] Jiji Press
Bloomberg
12-03-2025
- Business
- Bloomberg
Nomura Exits Bank Climate Group, Joining Wall Street-Led Exodus
Nomura Holdings Inc. is leaving the banking industry's largest climate alliance, joining Japanese peer Sumitomo Mitsui Financial Group Inc. as an exodus started by Wall Street heavyweights goes global. Nomura is withdrawing from the Net-Zero Banking Alliance due to the emerging risk of litigation under the Trump administration, which is less supportive of decarbonization, a spokesperson for the lender said on Wednesday. That leaves Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. as the two remaining Japanese megabanks in the alliance, which has roughly 130 signatories globally.
Bloomberg
04-03-2025
- Business
- Bloomberg
Japan's SMFG Joins Wall Street in Exiting Net Zero Banking Group
Sumitomo Mitsui Financial Group Inc. will leave the banking industry's main climate-finance alliance, the first major Japanese lender to join an exodus led by institutions from Wall Street and Canada. Japan's second-largest bank has decided to withdraw from the Net-Zero Banking Alliance, a spokesperson said Tuesday. Nikkei had earlier reported the lender's plan to quit the alliance.
Bloomberg
27-01-2025
- Business
- Bloomberg
Japan's Bank Shares Rise as BOJ Rate Hike Spurs Profit Optimism
Shares of Japanese lenders gained on optimism their profitability will improve after the Bank of Japan raised its key policy rate to the highest level in 17 years. Mitsubishi UFJ Financial Group Inc., Japan's largest bank by market value, climbed as much as 3% and was headed for its highest close on record. Sumitomo Mitsui Financial Group Inc. gained 3.3%, while Mizuho Financial Group Inc. rose 3.8%. A measure of banks on the Topix index advanced 2.8%, the biggest gainer among 33 industry groups.
