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Japanese bank acquires Rs.371 crore stake in Reliance Capital

Mumbai, Jan 23 (IANS) The Japan-based Sumitomo Mitsui Trust Bank (SMTB) has acquired a minority stake in the Anil Ambani-led Reliance Capital Ltd (RCL) — part of the Reliance Group — for Rs.371 crore. Sumitomo Mitsui Trust Group is the fourth largest bank in Japan (in terms of market capitalization and corporate loans) and Japan’s largest financial institution managing assets of $682 billion with assets under custody of $1.8 trillion as of September 2014.

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