[ASIA]
TOKYO — Sumitomo Mitsui Financial Group announced plans Friday to invest in Yes Bank, a major Indian commercial bank, expanding its foothold in a key overseas market seen having growth potential.
Sumitomo Mitsui Banking Corp., a subsidiary of SMFG, will acquire 20% of Yes Bank’s shares for 134.8 billion rupees ($1.58 billion), making it an equity-method affiliate.
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[NEWS]
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