Japan bank SMFG dives deeper into digital finance with SBI deal

Alliance to target young clients with smartphone banking

20220623N SMBC and SBI collage

Sumitomo Mitsui Financial Group is spending roughly half a billion dollars to buy a 9.91% stake in SBI Holdings.

HARUKI KITAGAWA, Nikkei staff writer

TOKYO -- Sumitomo Mitsui Financial Group aims to overhaul digital banking and investment services, and capture a new generation of clients, through its new partnership with top Japanese online brokerage SBI Holdings.

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