SMFG To Acquire Aircraft Leasing Business From RBS

Sumitomo Mitsui Financial Group, Inc.(SMFG), a major financial conglomerate, announced that SMFG and Sumitomo Corp, a leading trading company, have reached an agreement with The Royal Bank of Scotland Group plc (RBS) on the acquisition of RBS's aircraft business, subject to regulatory approval and clearance. RBS was the fourth largest air-leasing player in the world.