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Home / International Customs / Japanese SMFG to purchase $334m Citigroup business
Japanese SMFG to purchase $334m Citigroup business

Japanese SMFG to purchase $334m Citigroup business

TOKYO: Japanese bank holding company Sumitomo Mitsui Financial Group Incorporation will announce as soon it will buy Citigroup Inc’s Japanese consumer banking business.

Japan’s second biggest bank SMFG by market value will buy the business for about 40 billion yen ($334 million).

Japanese Other companies are interested in acquiring Citigroup’s card unit, but the bank has no plans to negotiate with them.