SMFG offers value-added services to domestic and overseas clients(corporations, financial institutions, governmental organizations and publicentities) operating globally by creating tailor-made solutions to meet various localneeds, mainly through SMBC’s International Banking Unit.
SMBC has three regional headquarters — Europe, the Americas and the Asia-Pacific region — and subsidiaries in the fast-growing markets in China, Russia and Brazil. Having this network, we have the speed and flexibility to respond to the diversified needs in each region. We will continue to be a global commercial bank, capable of leveraging our strengths to generate new business opportunities in the international market.
In terms of strengthening its network in emerging countries, in September 2010, SMBC opened its Bogota representative office in Republic of Colombia. The Latin American region is the area, where feasible, in which to acquire favorable prospects for further developing business opportunities such as project financing and other services in which SMBC surpasses. SMBC is enhancing its presence with the establishment of its representative office to meet its customers’ financial needs.
Furthermore, having opened its Shenyang Branch and the Shanghai Puxi Sub-Branch in June and July 2010, respectively, Sumitomo Mitsui Banking Corporation (China) Limited, a wholly-owned subsidiary of SMBC, is now able to provide a broader range of financial services by utilizing the comprehensive network of 14 locations throughout the People’s Republic of China.
In June 2010, SMBC executed a Memorandum of Understanding for the business alliance with one of the major Indian banks, Kotak Mahindra Bank Limited (“Kotak”). In August, SMBC acquired 4.5% of Kotak’s outstanding shares by way of the private placement of a preferential allotment of new shares to SMBC by Kotak. While developing economic growth in India through this business alliance and capital investment, SMBC will pursue new business opportunities by providing asset manage-ment, securities and invest-ment banking services and commercial banking services to non-Japanese companies doing business in India.
Signing ceremony for the alli-ance agreement with Kotak