Sumitomo Mitsui Financial Group completed the acquisition of a 74.9% stake in Fullerton India from Fullerton Financial for c.$2bn.

Sumitomo Mitsui Financial Group, a multinational banking and financial services firm, completed the acquisition of a 74.9% stake in Fullerton India, a non-banking finance company that offers credit to retail as well as small businesses, from Fullerton Financial, a financial advisory services firm, for c.$2bn. “We intend to leverage our expertise in Japan market as well as capabilities of our franchises across key emerging Asian markets. India is one of our focus markets where we believe in its high growth potential and want to build a deeper presence,” Jun Ohta, SMFG President & Group CEO.