6.48 0.00 (0.00%)
After hours: 4:17PM EST
|Bid||6.47 x 21500|
|Ask||6.50 x 47300|
|Day's range||6.46 - 6.52|
|52-week range||6.36 - 7.56|
|Beta (5Y monthly)||1.20|
|PE ratio (TTM)||6.10|
|Forward dividend & yield||0.34 (5.11%)|
|Ex-dividend date||26 Sep 2019|
|1y target est||11.77|
Japan's SMFG is the most serious bidder competing for a stake in Indonesia's PT Bank Permata , Slamet Edy Purnomo, a deputy commissioner at Indonesia Financial Service Regulator (OJK), said on Friday. Just two bidders are now vying for the stake in the mid-sized lender which is controlled by Standard Chartered and PT Astra International , who each own a 45% stake, Purnomo told reporters.
Sumitomo Mitsui Financial Group's (SMFG) chances of snapping up Indonesia's PT Bank Permata have improved after two key rivals dropped out of the race to buy the $2.4 billion-valued lender, sources said on Friday. One of the sources said SMFG was in advanced talks to negotiate terms for the purchase of the mid-sized bank, in which Standard Chartered and Indonesian conglomerate PT Astra International each own a 45% stake.
Sumitomo Mitsui Financial Group's (SMFG) chances of acquiring a majority stake in PT Bank Permata have improved after two key rivals dropped out of the race to buy the $2.4 billion-valued Indonesian lender, sources said. While Singapore lender OCBC Group Holdings and DBS Group Holdings Ltd had shown interest in the auction for mid-sized Permata, they are no longer pursing it, the sources, who declined to be named because they were not authorised to talk to the media, said. Reuters reported last week that SMFG and OCBC were working on competing offers and were seen as the frontrunners for Permata.
Sumitomo Mitsui Financial Group (SMFG) and Singapore lender OCBC Group Holdings are vying to buy Indonesia's PT Bank Permata and are working on respective offers, sources familiar with the matter said on Thursday. Japanese and other Asian banks are increasingly targeting a presence in Indonesia in the hope of tapping an emerging middle class in the country with a population of 260 million people.
Sumitomo Mitsui Financial Group (SMFG) said on Friday it would acquire British asset manager TT International, in a move to generate a fee-based revenue and attract Japanese investors hamstrung by low domestic returns. Japanese banks are turning to asset-based fees to generate a reliable revenue source under Bank of Japan's policy that has kept ultra-low rates for years. Sumitomo Mitsui, Japan's second-largest lender by asset, has decided to buy a foreign asset manager for the first time, the bank said in a statement, adding the transaction is slated to close this financial year.
Japan's three largest banks all reported lower annual profits on Wednesday, highlighting the challenges faced by the banking industry as the world's third-largest economy looks to be headed for another downturn. The size of the declines varied - Sumitomo Mitsui Financial Group had a 1% drop while rival Mizuho reported an 83% dive - all three show the difficulty banks have in navigating Japan's ultra-loose monetary policy. Japanese banks have had to cope for years with an ageing and shrinking population and massive central bank stimulus that has left them with razor-thin profit margins.
Dec.10 -- Jun Ohta, Director President and Group CEO of Sumitomo Mitsui Financial Group Inc speaks with Bloomberg's Yuki Hagiwara at Bloomberg The Year Ahead in Tokyo on December 5, 2019.