Japan's SMFG keen to buy bank in Indonesia after losing Permata bid last year

REUTERS/Beawiharta

Japan’s second-largest lender Sumitomo Mitsui Financial Group Inc is eager to buy a commercial bank in Indonesia, its chief executive said, after a “painful” defeat last year in vying for mid-sized lender PT Bank Permata.

The comment by CEO Jun Ohta comes as Japanese banks have been struggling with ultra-low interest rates at home, with SMFG seeking opportunities outside Japan, particularly in Southeast Asia.

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