News Release


Approval to Commence Preparation for Opening Shenzhen Branch of SMBCCN(1/1)

September 10, 2010

Sumitomo Mitsui Banking Corporation

 

 

Approval to Commence Preparation for Opening Shenzhen Branch of SMBCCN

 

 

TOKYO, September 10, 2010 --- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced today that its wholly-owned subsidiary Sumitomo Mitsui Banking Corporation (China) Limited (gSMBCCNh, President: Kazunori Okuyama) received approval from the China Banking Regulatory Commission on September 1, 2010, to start preparing for the establishment of a branch in Shenzhen. With this approval, SMBCCN can now start taking the necessary steps to open the branch which will become itfs eighth branch. SMBCCNfs network in Mainland China currently comprises seven branches (including Shanghai Head Office) and three sub-branches.

 

This year, Shenzhen, in the Guangdong Province, celebrates the 30th anniversary of the establishment of the Shenzhen Special Economic Zone under the Chinese governmentfs Reform and Door-Opening Policy. Shenzhen has developed into one of the most important cities in China as the mainspring of economic growth in the Pearl River Delta, the core region of South China. The city is maintaining its high growth in a wide range of industries from manufacturing to telecommunications, and a further development of its economy is expected. As one of the leading container ports in the world, Shenzhen is also Chinafs key transportation hub.

 

China is one of SMBCfs most important markets in the world. Our goal is to provide comprehensive financial services to our customers in China in collaboration with SMBCCN. Shenzhen Branch will cooperate with SMBCfs Hong Kong Branch and SMBCCNfs Guangzhou Branch to deliver enhanced services to our customers in South China.

 

 




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