Sumitomo Mitsui Banking Corporation Dispatches Staff to ACLEDA Bank Plc. in Cambodia for the Enhancement of Business Collaboration(1/1)
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking
Corporation Dispatches Staff to ACLEDA
TOKYO, January 14, 2014 --- Sumitomo Mitsui Banking Corporation (gSMBC,h President & CEO: Takeshi Kunibe) has announced that as part of its business collaboration with ACLEDA Bank Plc. (gACLEDAh), Cambodiafs leading commercial bank, it has today launched technical assistance by dispatching a Japanese staff member to the Foreign Corporate Unit (gFCUh), which has been newly established by ACLEDA as consultation service department for Japanese companies, etc.
Since signing a Memorandum of Understanding on Mutual Business Cooperation with ACLEDA in August 2012, SMBC has been promoting business collaboration with ACLEDA by introducing corporate clients wishing to do businesses with Cambodian banks. SMBC will provide its know-how to the FCU established within ACLEDA, with the aim of further enhancing its capabilities in providing solutions for clients.
In addition, SMBC has promoted the improvement of its client support system by establishing Phnom Penh representative office in February 2012, and executing a Memorandum of Understanding with the operator of the Phnom Penh Special Economic Zone in November 2013 concerning mutual cooperation, including soliciting and supporting the investment of Japanese corporations in Cambodia. SMBC will continue to exert its efforts to proactively serve the diverse needs of clients on a local basis.
(Reference 1.) Profile of ACLEDA Bank Plc.
- Established : 1993.
(including overseas subsidiaries) (as of December 31, 2013)
- Total assets : US$1.98 billion (as of December 31, 2012)
- Stock listing : Not listed.
(Reference 2) Outline of the Foreign Corporate Unit
department established in the headquarters of ACLEDA, engaged in supporting
services for foreign companies in
· Provides various financial services to clients, including Japanese corporations, by making the most of ACLEDAfs branch network, such as opening deposit accounts in the local currency and foreign exchange transactions.