SMFG targets $5b in sales and trading revenue: report

Arihiro Nagata conservatively estimates that it would take six years to do so.

Sumitomo Mitsui Financial Group (SMFG) is seeking to double its revenue in the sales and trading business to $5b (JPY800b), a bank executive told Reuters.

Arihiro Nagata, head of SMFG’s global markets division, said that rising interest rates, currency swings and record stock prices in Japan are driving demand for trading products.

Nagata conservatively estimates that the bank should be able to double its current $2.5b (JPY400b) in sales in about six years.

SMFG has reportedly lost ground to rivals in recent years, as the rivals beefed up their markets businesses.

The Japanese megabank recently logged a record net profit for the FY3/2026 period.

Japan's big three banks have been expected to hit record high profits in the past fiscal year thanks to the Bank of Japan’s monetary policy normalisation boosts their margins. 

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