|
SMFG is roughly tied with Mizuho Financial Group (8411 JP) for the status of Japan?s second-largest bank after Mitsubishi UFJ Financial Group, or MUFG (8306 JP). As of March 2018, its market share of domestic loans was 7.2%, compared with 9.4% for MUFG. It has a larger consumer finance business than the other two megabanks, owning 100% of the Promise business and controlling two major credit card players. It also controls one of Japan?s largest leasing companies and SMBC Aviation Capital, one of the top five aircraft lessors globally. In securities, its SMBC Nikko unit is Japan?s third-largest retail broker, although SMFG lags somewhat in institutional securities business and asset management, areas that it is working on strengthening.
|
