Japan’s SMBC goes after China market

Megabank targets Chinese clients by upping its stake in Bank of East Asia. The deal looks reasonably priced at about ¥100 billion or about 1.2 times book.
September 07, 2014

Sumitomo Mitsui Banking Corp. (SMBC) is targeting a toehold in the Chinese market by upping its stake in Bank of East Asia (BEA) for about ¥100 billion ($951 million).

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