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Business 07 Jul 2021 | 7:00 AM

Japan’s SMFG in US$2bil deal for Fullerton India

TOKYO: Sumitomo Mitsui Financial Group Inc is nearing an agreement to buy a majority stake in Fullerton India Credit Co for about 220 billion yen (US$2bil or RM8.31bil), people familiar with the matter said, in what would be the first entry into the South Asian country’s retail financial business by a Japanese bank.