1. SMFG Shifts Strategy: Halts Acquisitions, Sets Aggressive ¥2 Trillion Profit Target
Sumitomo Mitsui Financial Group (SMFG), Japan's second-largest banking giant, is making a sharp strategic pivot, cooling its pursuit of acquisitions to focus squarely on an ambitious new profit goal. The lender has set a target of achieving ¥2 trillion in profit and a 13% return on tangible equity (ROTE) within the nex...