Suvarna Garge (Editor)

Sumitomo Mitsui Banking Corporation

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Type
  
Private (Subsidiary)

Area served
  
Worldwide

Key person
  
Takeshi Kunibe

Industry
  
Financial services

Number of locations
  
444

Sumitomo Mitsui Banking Corporation httpscontentjobsdbcomContentCmsContentLogo

Predecessor
  
The Wakashio Bank, Ltd. (Renamed on April 1, 2001)

Key people
  
Takeshi Kunibe (President)

Services
  
Personal banking Corporate banking Investment banking

Headquarters
  
Chiyoda, Tokyo, Tokyo, Japan

Revenue
  
2.109 trillion JPY (non-consolidated, March 2011)

Founded
  
April 2001, Chiyoda, Tokyo, Tokyo, Japan

Subsidiaries
  
SMBC NIKKO SECURITIES INC., SMBC Trust Bank

Parent organization
  
Sumitomo Mitsui Financial Group, Inc.

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Sumitomo mitsui banking corporation


Sumitomo Mitsui Banking Corporation (SMBC; 株式会社三井住友銀行, Kabushikigaisha mitsui sumitomo ginkō) is a Japanese multinational banking and financial services company headquartered in Yurakucho, Chiyoda, Tokyo, Japan. It is a wholly owned subsidiary of Sumitomo Mitsui Financial Group. SMBC is the second largest bank in Japan by asset.

Contents

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History

SMBC was formed by the merger of The Sumitomo Bank and Sakura Bank in April 2001. Sumitomo Bank was a major Japanese bank founded in 1895; Sakura Bank was a descendant of Mitsui Bank, another major Japanese bank founded in 1876, but with operations dating back to 1683, when the Tokugawa Shogunate granted Mitsui Takatoshi permission to act as a money changer.

  • April 2001: Sakura Bank and Sumitomo Bank merge to form Sumitomo Mitsui Banking Corporation. (Capital stock: ¥1,276,7 billion)
  • December 2002: Sumitomo Mitsui Banking Corporation (SMBC) establishes a holding company named Sumitomo Mitsui Financial Group, Inc. (SMFG) through a share transfer, SMBC becomes a wholly owned subsidiary of SMFG.
  • March 2003: Wakashio Bank (established June 1996) merges with SMBC.
  • July 2008: Sumitomo Mitsui buys a 2.1 per cent stake in Barclays Bank for £500m.
  • April 2008: A group of criminal hackers including Hugh Rodley, security insider Kevin O'Donoghue and Soho sex shop owner David Nash are found guilty of an attempted high-tech robbery of £229m from Sumitomo Mitsui Banking Corporation's London branch in September 2004. Henchmen Jan Van Osselaer and Gilles Poelvoorde were also found guilty of conspiracy to steal. The plot was discovered by Sumitomo Mitsui staff, and no money was stolen. Another accused, Bernard Davies, died before trial.
  • March 2015, Sumitomo Mitsui Banking Corporation bought HKD $6.58-billion (JPY 105-billion, USD $849-million) of new Bank of East Asia shares, raising SMBC's stake in the Hong Kong lender to 17.5% from 9.7%.

    • Structure

    The Sumitomo Mitsui Banking Corporation is organised in the following structure:

  • Consumer Banking Unit
  • Middle Market Unit
  • Corporate Banking Unit
  • Investment Banking Unit
  • International Banking Unit
  • Treasury Unit
  • Compliance Unit
  • Corporate Staff Unit

    • Shareholders

  • Sumitomo Mitsui Financial Group, Inc. (100%)

    • References

    Sumitomo Mitsui Banking Corporation Wikipedia
    (Text) CC BY-SA