TOKYO: Japan's Sumitomo Mitsui Banking Corp said yesterday it had sold its 6.7% stake in second-ranked Philippine lender Bank of the Philippine Islands (BPI) for US$132mil, but declined to name the buyer.
Sumitomo Mitsui, the core unit of Japan's No. 3 bank group Sumitomo Mitsui Financial Group (SMFG), said the sale was part of a broader re-examination of its overseas holdings, but declined to comment on whether more sales were planned.
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