Approval to Open an Office in Istanbul(1/1)
November 21, 2011
Sumitomo Mitsui Banking Corporation
to Open an Office in Istanbul
TOKYO, November 21, 2011---Sumitomo
Mitsui Banking Corporation (SMBC, President: Takeshi Kunibe)
announced today that its application to open an office in Istanbul,
Republic of Turkey has been approved by the Turkish and
Japanese regulators. SMBC is taking the necessary steps to commence its
activities in Turkey.
Turkey is geographically located in
the middle of Europe, Middle East, Asia and Africa
and has a population of 74 million with a median age of 29 years. Turkey
is expected to see significant further developments in its economy. This will
be driven by a growth in foreign trade, facilitated by its geographically
advantageous location, and strong domestic demand underpinned by its young
also has strong initiatives to improve various aspects of its social
infrastructure including electricity and transportation.
The opening of the Istanbul office will
enable SMBC to further improve its capability in the region to support its clients
through the provision of sophisticated finance solutions, including trade,
corporate and project finance.