Sumitomo Mitsui’s Consumer Loan Unit to Double China Offices
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Sumitomo Mitsui Financial Group Inc.’s consumer loan unit plans to open as many as four China offices in the next two to three years, more than doubling the number to tap demand in the world’s second-largest economy.
“We want to focus our capital on China, where we already have a presence,” SMBC Consumer Finance Co. President Ken Kubo said in an interview on Feb. 26, without elaborating on the location of the new offices. The company already has units in Shenyang and Shenzhen and is about to start a third in Tianjin.