Sumitomo Mitsui Banking Corporation

Establishment of Global Trade Finance Department

TOKYO, June 1, 2007 --- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) today established a new department, Global Trade Finance Department (GTFD), to better meet the growing financing needs of global trade and enhance its trade finance services. GTFD is headquartered in London , the global center of trade finance, with teams located in all key markets in Asia, Europe and the Americas . 

Trade flows are expanding inexorably throughout the world, with commensurate demand for products to manage the associated risks. Meanwhile, trade finance requirements are becoming more complex and structured, especially for those transactions involving emerging markets.

SMBC has trade finance professionals around the world, including teams in Tokyo , Hong Kong, Shanghai , Singapore , Dubai , London , New York and Sao Paulo , providing expertise in a wide range of products.  Previously, its trade finance business was structured along separate regional teams, but by integrating these teams into a single department it will be able to bring a full breadth of expertise and experience to  providing efficient, timely and tailored solutions for the trade finance requirements of clients around the world.