Japanese lender Sumitomo reportedly in talks to expand in Turkey.

By bne IntelliNews July 19, 2012
Bloomberg reported by quoting two unnamed people familiar with the situation that Sumitomo Mitsui Financial Group Inc., Japans second largest lender by market value, is currently in talks with local Investment Support & Promotion Agency (Ispat) in order to seek options to expand in Turkey from a representative office of its banking unit Sumitomo Mitsui Banking Corp. in Istanbul. Sumitomo plans to help finance Japanese investments in Turkey and may also apply for a banking license, according to unnamed sources. Takashi Morita, a spokesman from Sumitomo Mitsui Banking Corp., told Bloomberg that nothing has been decided. Please note that Yasuhiro Sato, CEO of Mizuho Corporate Bank, Japans third largest lender which opened a representative office in Turkey last month, announced last month that the lender wanted to get a local banking licence or acquire a stake in a local bank; and Shoji Nakano, another Japanese lender Bank of Tokyo-Mitsubishi UFC (BTMU)s head for Europe, Middle East and Africa, said earlier this week that the lender would apply for a banking license in August.

Related Articles

PKK leader Ocalan calls for ceasefire and withdrawal of militants from Turkey.

The jailed leader of the PKK, Abdullah Ocalan, called for a ceasefire on Thursday, ordering armed PKK militants to withdraw from Turkey. Hundreds of thousands of people gathered in the city of ... more

Syrian government says Turkey responsible for chemical attack.

The Syrian government said the rebel groups foreign supporters, Turkey and Qatar, were responsible for a chemical attack in Aleppo. The countries that back and support the rebels, including ... more

Erdogans comments on Zionism clouds US secretary of states Turkey visit.

US secretary of state John Kerry was in Ankara on Friday for talks with the Turkish leaders, including PM Recep Tayyip Erdogan and President Abdullah Gul, focused on the crisis in Syria, ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss