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SMFNF - Sumitomo Mitsui Financial Group: Solid Q1 We Expect A Share Buyback
Sumitomo Mitsui Financial Group Inc Tokyo
Sumitomo Mitsui Financial Group remains a well-capitalized bank and it reported strong Q1 FY2022 results with gross revenue growth and high asset quality.
With improving fundamentals, there is scope for shareholder returns to increase.
Surplus capital can be allocated to conducting share buybacks as well as improving return on equity. We reiterate our bullish stance.