Kihara plans to leverage the bank’s expertise in facilitating cross-border transactions for corporate and institutional clients — a strategy that contrasts with Mitsubishi UFJ Financial Group Inc and Sumitomo Mitsui Financial Group Inc, which have spent billions acquiring stakes in commercial lenders and financial firms to tap Asia’s growing middle class.
(Dec 29): Mizuho Financial Group Inc is bolstering efforts to expand its corporate and institutional banking business in Europe and Asia, pursuing a growth strategy that’s diverging from its Japanese peers.
Japan’s third-largest bank plans to replicate a US expansion of that division into these other regions, chief executive officer Masahiro Kihara said in an interview.
