TOKYO - Japan's Sumitomo Mitsui Financial Group said it agreed to invest around 10 billion yen in Philippine bank Rizal Commercial Banking Corporation , taking a 5 percent stake, as it looks for growth outside a slow-growing domestic market.
The move follows its announcement in April that it would invest up to 150 billion yen in Vietnam's biggest non-bank lender FE Credit as it looks for growth outside a slow-growing domestic market.
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