Japan's SMFG looks outside traditional banking for growth: CEO

Overseas markets will be focus despite geopolitical risks, Jun Ohta says

20230131N SMFG CCC app

SMFG and Culture Convenience Club will join their popular V Point and T-Point rewards systems as the banking group seeks partnerships beyond traditional financial services. © Kyodo

HARUKI KITAGAWA, Nikkei staff writer

TOKYO -- Sumitomo Mitsui Financial Group will maintain a focus on international markets and target nonbanking businesses to lead growth amid a rapidly changing banking environment, the company's CEO told Nikkei.

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