Sumitomo Mitsui Financial Group to buy European lenders' assets

Japan's second biggest bank received $90b in offers from European banks.

In a Bloomberg report, Sumitomo Mitsui’s president, Koichi Miyata said the offers include infrastructure project loans and that sellers of European banking assets currently outnumber buyers.

Bloomberg noted that Miyata aims to add 6 trillion yen worth of overseas assets to his bank in next three years to help offset sluggish Japanese loan demand.

View the full report here.