News Release

Commencement of Collection Services in China(1/1)


Sumitomo Mitsui Banking Corporation



Commencement of Collection Services in China


TOKYO, March 30, 2010 --- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced today that Sumitomo Mitsui Banking Corporation China Limited (President: Kazunori Okuyama), a wholly owned subsidiary of SMBC, and Industrial and Commercial Bank of China (ICBC, Chairman & Executive Director: Jiang Jianqing) will jointly launch a collection services business in China (gthe serviceh). Under the collaboration from April 1st, Japanese companies without an account with ICBC can use ICBCfs vast network of branches in China to collect accounts receivable from their customers.


Japanese companies that do business in Mainland China in RMB will be able to improve the efficiency of their accounts receivable collection and management. Companies in leasing, installment sales, insurance, wholesale, and auto-related businesses, in particular, are expected to use the service. A number of Japanese companies that sells construction equipment in China have already decided to use the service.


Other local banks in China will be asked to join the collaboration in the future to enhance services.


Profile of Industrial and Commercial Bank of China (ICBC)

Establishment: January,1984

Head Office: Beijing

Number of networks: 16,232 (including Head Office, branches and sub-branches)*

Total assets: RMB117,850.53 hundred million*

Capital radio: 12.36% *

Stock Listed: Shanghai & Hong Kong

*31st Dec, 2009



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