News Release


Preliminary Approval Received for Foreign Bank License in Myanmar(1/1)

October 1, 2014

Sumitomo Mitsui Banking Corporation

 

 

Preliminary Approval Received for Foreign Bank License in Myanmar

 

 

TOKYO, October 1, 2014 --- Sumitomo Mitsui Banking Corporation (SMBC, President and CEO: Takeshi Kunibe) received today the preliminary approval for Foreign Bank License from The Central Bank of Myanmar, and will begin the necessary process to commence banking operations in Myanmar.

 

The growth of Myanmar economy is expected to accelerate with an increase in direct foreign investment. The Foreign Bank License will enhance SMBCfs ability to provide a wide range of banking services and support for clients expanding their business in Myanmar.




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