Sumitomo Mitsui Financial Group

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Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group is roughly tied with Mizuho Financial Group for the status of Japan's second-largest bank after Mitsubishi UFJ Financial Group. As of March 2023, its market share of domestic loans was 7.1%, compared with 8.1% for MUFG. It has a larger consumer finance business than the other two megabanks, owning 100% of the Promise business and SMBC Card. It also controls one of Japan's largest leasing companies and SMBC Aviation Capital, one of the top fiveaircraft lessors globally. In securities, its SMBC Nikko unit is Japan's third-largest retail broker, although SMFG has lagged somewhat in institutional securities business and asset management.