Sumitomo Mitsui Banking Corporation

Sumitomo Mitsui Banking Corporation
Native name
株式会社三井住友銀行
Kabushiki gaisha Mitsui Sumitomo Ginkō
Company typePublic (Kabushiki gaisha)
ISINJP3890350006
IndustryFinancial services
Predecessor
FoundedApril 1, 2001 (2001-04-01)
Headquarters,
Number of locations
463 branches (as of 30 September 2019)[1]
Area served
Worldwide
Key people
Takeshi Kunibe
(Chairman)[2]
Akihiro Fukutome
(President)[2]
Products
RevenueDecrease US$47.98 billion (2019)[3][4]
Decrease US$8.97 billion (2019)[3][4]
Decrease US$6.47 billion (2019)[3][4]
Total assetsIncrease US$2.036 trillion (2019)[3][4]
Total equityIncrease US$99.32 billion (2019)[3][4]
Number of employees
103,000 (as of March 30, 2020)[5]
ParentSumitomo Mitsui Financial Group Edit this on Wikidata
Websitewww.smbc.co.jp Edit this at Wikidata

Sumitomo Mitsui Banking Corporation (株式会社三井住友銀行, Kabushiki-gaisha Mitsui Sumitomo Ginkō, SMBC) is a Japanese multinational banking financial services institution owned by Sumitomo Mitsui Financial Group, Inc (株式会社三井住友フィナンシャルグループ, SMFG). It is headquartered in Marunouchi, Chiyoda, Tokyo, Japan.[6] The group operates in retail, corporate, and investment banking segment worldwide. It provides financial products and services to a wide range of clients, including individuals, small and medium-sized enterprises, large corporations, financial institutions and public sector entities. Since 2011, it has been included into the Financial Stability Board's list of global systemically important banks.

SMBC was established in 2001 through the merger of The Sakura Bank, which originated from the Mitsui zaibatsu and was founded as Mitsui Bank in 1876, and The Sumitomo Bank, which originated from the Sumitomo zaibatsu and was founded in 1895. It is the second-largest bank in Japan in terms of total assets and market capitalization.[7] Along with Mitsubishi UFJ Financial Group and Mizuho Financial Group, SMFG is referred to as one of Japan's three major megabanks.[8]

SMBC group operates in over 40 countries and maintains a presence in all International Financial Centres as the 12th biggest bank in the world by total assets. It is one of the largest global financial institutions in project finance space by total loan value.[9][10] As of May 2020, SMBC group is listed as 80th largest public company in the world according to Forbes ranking.[11] In 2023, the company’s seat in Forbes Global 2000 was 86.[12]

  1. ^ "Company Profile | Sumitomo Mitsui Banking Corporation". www.smbc.co.jp.
  2. ^ a b "Directors, Executive Officers, Group CxO and Head of Business Units". Retrieved 8 January 2024.
  3. ^ a b c d e "Consolidated financial results for the fiscal year ended March 31, 2020" (PDF). Sumitomo Mitsui Financial Group, Inc. 15 May 2020.
  4. ^ a b c d e "Sumitomo Mitsui Financial Group, Inc". Nikkei Asian Review.
  5. ^ "Latest company presentation, refer to page 36" (PDF). www.smbcgroup.com.
  6. ^ "Company Overview | Sumitomo Mitsui Financial Group". www.smfg.co.jp. Retrieved 17 May 2024.
  7. ^ "JRI America to set up centre in Tralee, creating 100 jobs – Careers | siliconrepublic.com – Ireland's Technology News Service". Silicon Republic. 30 September 2011.
  8. ^ "Mega-Banks occupy Japanese bank market!". 3 July 2019.
  9. ^ http://www.pfie.com/Journals/2019/04/11/l/i/l/PFI-Financial-Q1-2019-LT.pdf [dead link]
  10. ^ "IJGlobal Infrastructure Finance league table report" (PDF). ijglobal.com. 2019.
  11. ^ "SMBC Group in Forbes 2000". Forbes. May 2020. Retrieved 6 June 2020.
  12. ^ "The Global 2000 2023". Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.

© MMXXIII Rich X Search. We shall prevail. All rights reserved. Rich X Search