Japan’s biggest banks plan to maintain ties to billionaire Gautam Adani despite U.S. bribery charges, even as other global firms including Barclays are reassessing their exposure to his Indian conglomerate.
Mizuho Financial Group expects the latest saga surrounding Adani won’t have a long-lasting impact and intends to continue supporting the group, according to people familiar with the matter. Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group also have no plans to pull back and will be open to fresh financing if needed later, people familiar with the matter said.
Tokyo-based spokespeople for all three lenders declined to comment. An Adani Group representative didn’t comment immediately.