SMBC actively studying acquisition of U.S. bank

I call the top of the market in US banks. Maybe top of the market full stop.

Funny, I met Takashima numerous times a few years ago, good on him. I hope he does better than his predecessors, who ran the company as if they were cats with something tied to their tails.

A fool and his money etc.

“But the core funding source is retail deposits. And to be honest, we want that source when we think about our future growth,” he said.

A Japanese bank wants to get its hands on American retail deposits to fund their global dollar commercial lending.

The US financial regulators are absolutely going to love that. I can't see any risk there. No, none at all.

Ah-so True. and anyway the cost of funds in Japan is way below the cost of US dollar retail deposits..... this will likely be another example of a Japanese corporate buying overseas for the wrong reasons and losing a bundle.

Given current FinTech trends, such an acquisition may be lacking a bit of forward thinking.