News Release


Approval to Open Hanoi Branch(1/1)

Approval to Open Hanoi Branch (1/1)

 

 Sumitomo Mitsui Banking Corporation

 

 

Approval to Open Hanoi Branch

 

Tokyo , 6 November , 2008---Sumitomo Mitsui Banking Corporation (gSMBCh, President Masayuki Oku) today announced that its application to open a branch in Hanoi , the capital of the Socialist Republic of Vietnam, was approved by the State Bank of Vietnam on 4 November 2008. SMBC will take the necessary steps to establish the branch by the end of this year subject to the approval of the relevant regulatory authorities.

 

Vietnam has been showing remarkable economic growth in recent years, and with the opening of the Hanoi Branch, SMBC will have a presence in both the southern (Ho Chi Minh City Branch) and northern regions of Vietnam (the Hanoi Representative Office will be closed after the branch opening). Coupled with the alliance with Vietnam Exim Bank, it will enable SMBC to enhance its business base and meet wider needs of its customers.




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