News Release


Business Cooperation Agreement with Absa Bank Limited(1/1)

Sumitomo Mitsui Banking Corporation

 

 

Business Cooperation Agreement with Absa Bank Limited

 

 

 

TOKYO, 17 June 2013---Sumitomo Mitsui Banking Corporation (gSMBCh, President: Takeshi Kunibe) today announced the signing of a Business Cooperation Agreement with Absa Bank Limited (gAbsah), a group company of Barclays PLC on 14 June 2013.

 

SMBC entered into a Business Cooperation Agreement with Absa on 10th May 2010 to support its Japanese clients through the provision of banking services in the Republic of South Africa. Under the new agreement, SMBC will expand the geographical scope of its business cooperation with Absa in order to provide a wider range of support to its clients utilising Absafs network mainly in the Sub-Saharan African region.

 

The leading nations in the Sub-Saharan Africa region have demonstrated robust growth in recent years, and provided many business opportunities in the market through strong infrastructure development initiatives. 

This trend of increasing business is expected to continue and grow.

 

As one of the largest banks operating in the Sub-Saharan Africa region, Absa has a substantial office network in the region. The enhanced business alliance with Absa will enable SMBC to proactively support its clients by leveraging our considerable experience and expertise in providing a broad range of financial products and solutions.

 

 

 

Profile of Absa Bank Limited

 

Established:                    1991

Registered Address:        7th Floor, Absa Towers West, 15 Troye Street, Johannesburg, 2001

Operating countries:        South Africa, Botswana, Ghana, Kenya, Mauritius, Mozambique, Namibia, Nigeria, Seychelles, Tanzania, Uganda, Zambia and Zimbabwe

Total Assets:                  ZAR 764.5 billion ias of December 2012j

Capital Ratio:                  17.5%ias of December 2012j

Barclaysf equity stake:@ 55.5“

Listed:                           Johannesburg Stock Exchange

 

 




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