Sumitomo Mitsui Financial Group is set to quicken its push into India by boosting lending and adding staff, after deploying almost $5 billion to gain ground in one of the world¡¯s fastest growing major economies.
Japan¡¯s second-largest lender has made investments to expand in financial services from retail to wholesale banking in the country, such as a recent landmark deal that made it the biggest shareholder of Yes Bank.
¡°The key is to continue to support these platforms and scale them up,¡± Rajeev Kannan, head of its India division, said in an interview.
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