After spending more than ¥376.6 billion ($3.3 billion) on deals in Asia this year, Sumitomo Mitsui Financial Group Inc. Chief Executive Officer Jun Ohta said his ambitions in the region are far from completed and that he will weigh more transactions in the future.
"We will consider if there are good targets,” he said in an interview. "Our ultimate goal is to create a second and third SMBC Group. We just lack everything,” he added, using its preferred name for the banking conglomerate.
The head of Japan’s second-largest lender is seeking to broaden services across Asia, acquiring commercial banks and consumer-finance companies with a focus on four countries: Indonesia, India, Vietnam and the Philippines. Faced with weak growth prospects at home, Japan’s top banks are building on footholds overseas.