Sumitomo Mitsui to Buy $1.5 Billion Stake in Indonesia’s BTPN

Sumitomo Mitsui to Buy $1.5 Billion Stake in Indonesia’s BTPN

Kiyoshi Ota/Bloomberg

Sumitomo Mitsui Financial Group Inc. has stepped up investments abroad over the past year. In December, it paid HK$3.3 billion ($425 million) to double its stake in Bank of East Asia Ltd., Hong Kong’s largest family-run lender, to 9.5 percent.