SBI Holdings completed the acquisition of a 28% stake in Shinsei Bank for $1bn.

SBI Holdings, a financial services group, completed the acquisition of a 28% stake in Shinsei Bank, a commercial bank, for $1bn. SBI aims to become Japan’s fourth largest banking group and already owns the country’s largest online brokerage, an online bank and an asset manager. It has been taking stakes in smaller lenders to create a nationwide network.