The banking groups will lend to client firms funds for investment in environmental fields and offer advice about reviewing management strategies in an eco-conscious manner.
The mega-deal between Sumitomo Mitsui Financial Group and FE Credit is expected to rewrite the consumer finance landscape in Vietnam. Masataka âSamâ Yoshida, head of the Cross-border Division of RECOF Corporation and CEO of RECOF Vietnam Co., Ltd., talked with VIRâs Luu Bui about the appetite of Japanese investors for the market.
How would you assess the potential of Vietnamâs consumer finance market and why is the sector attractive to overseas investors?
Masataka âSamâ Yoshida, head of the Cross-border Division of RECOF Corporation and CEO of RECOF Vietnam Co., Ltd
Consumer finance in Vietnam has been increasing strongly since around 2013 on the back of rising affluence amid strong economic growth. However, consumer finance remains relatively new to the majority of Vietnamese people, and like many emerging markets, the country presents major growth opportunities for modern consumer finance.
Lessor SMBC orders 14 additional 737 MAX jets from Boeing
05/25/2021 7:18
DUBLIN (Reuters) -Aircraft leasing firm SMBC Aviation Capital has agreed to buy an additional 14 Boeing 737 MAX aircraft with a low-cost carrier configuration, with deliveries due to begin later this year, it said on Tuesday.
The company, a major Boeing customer, had previously disclosed firm orders for 89 MAX jets and a commitment to a fleet of 133.
But last year during the grounding of the MAX and at the height of the COVID-19 pandemic it deferred delivery of 68 of those jets by four years until 2025-2027 and indicated it had not ruled out cancellations.
Consumer finance groups tap new funds 21:26 | 25/05/2021
Lenders are more likely to try and capitalise on overseas experience. Photo: Le Toan
In April, Japanese financial institution Sumitomo Mitsui Financial Group â which is the parent of Sumitomo Mitsui Banking Corporation (SMBC) â successfully acquired 49 per cent in Vietnamâs largest consumer finance company FE Credit in a $1.4 billion deal â the largest financial merger and acquisition (M&A) deal in Vietnam.
Accordingly, FE Creditâs valuation is estimated to be around $2.8 billion, which is higher than mid-sized banks in Vietnam such as VIB, HDBank, SHB, and OCB.
According to an integrated service provider of financial data FiinGroup, FE Credit has a price-to-earnings (P/E) ratio of nearly 22 with a price-to-book (P/B) ratio at 3.4, which is nearly 40 per cent higher than the average transactions involving consumer finance companies in the past few years. The price i
Japan: NGOs call on SMBC Groupâs new coal policy to further meet Paris Agreement
Sumitomo Mitsui Financial Group (hereinafter SMBC Group) published a statement entitled âReinforcing Efforts against Climate Change. announcing revisions to its coal-fired power sector policy as well as updated targets for green and sustainability finance. Environmental NGOs, 350.org Japan, Kiko Network, the Japan Center for a Sustainable Environment and Society, and the Rainforest Action Network, welcomed the strengthening of policies toward decarbonization, but issued the following statement, recognizing that there are still many challenges to be addressed for the SMBC Group to set a business strategy consistent with the Paris Agreement.