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Tag Archives: SMBC

Tokyo stocks start 0.53pc higher, Nikkei 225 adds 93.87pts

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TOKYO: Tokyo stocks started 0.53 percent higher on Monday, up by weaker yen and new record high on Wall Street determined by optimism over the outlook for the US market. The Nikkei 225 index at the Tokyo Stock Exchange rose 93.87 points to 17,912.83 in the first minutes of trading. “The market is benefiting from solid year-end momentum as the ... Read More »

Japan’s SMBC to buy Citigroup retail business for $330m

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TOKYO: Sumitomo Mitsui Banking Corporation (SMBC) will buy Citigroup Incorporation’s Japanese retail banking operations in October for about 40 billion yen ($330 million). The Citi operations will be merged into SMBC Trust Bank, which will let Citi’s retail customers in Japan maintain their access to the US bank’s global ATM network for at least two years after SMBC’s acquisition. They said the ... Read More »