Sumitomo Mitsui Financial Group Accelerates India Expansion with $5 Billion Investments

Sumitomo Mitsui Financial Group plans to accelerate its expansion in India by boosting lending and hiring staff after investing almost $5 billion. The Japanese bank has made significant investments in financial services, including a landmark deal that made it the largest shareholder of Yes Bank. With a focus on integrating acquisitions, the investment spree is likely to slow down. Sumitomo Mitsui aims to build a full suite of financial services in four Asian countries, including India, Vietnam, the Philippines, and Indonesia.