News Release

Approval to Open an Office in Istanbul(1/1)




November 21, 2011

Sumitomo Mitsui Banking Corporation


Approval to Open an Office in Istanbul



TOKYO, November 21, 2011---Sumitomo Mitsui Banking Corporation (SMBC, President: Takeshi Kunibe) announced today that its application to open an office in Istanbul, Republic of Turkey has been approved by the Turkish and Japanese regulators. SMBC is taking the necessary steps to commence its activities in Turkey.


Turkey is geographically located in the middle of Europe, Middle East, Asia and Africa and has a population of 74 million with a median age of 29 years. Turkey is expected to see significant further developments in its economy. This will be driven by a growth in foreign trade, facilitated by its geographically advantageous location, and strong domestic demand underpinned by its young population. Turkey also has strong initiatives to improve various aspects of its social infrastructure including electricity and transportation.


The opening of the Istanbul office will enable SMBC to further improve its capability in the region to support its clients through the provision of sophisticated finance solutions, including trade, corporate and project finance.




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