June 26, 2007

Sumitomo Mitsui Banking Corporation

 

 

Approval to Commence Preparation for Beijing Branch Opening

 

 

TOKYO , June 26, 2007 --- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced today that its application to commence preparation for establishing a branch in Beijing was approved by the China Banking Regulatory Commission on June 18, 2007.  Following this approval, SMBC will take the necessary steps with the local authorities and obtain the approval from the Financial Services Agency of Japan.

 

SMBC unifiedits operationinMainland China by establishing a “China Division” in December 2006; enhanced its network by opening Tianjin Binhai Sub-Branch in March 2007 and Suzhou Industrial Park Sub-Branch in April 2007; and will continue to strengthen its services to customers in China .

 

After the opening of Beijing Branch, SMBC’s network in Mainland China will be 11 offices, comprising 6 branches (Beijing, Shanghai, Tianjin, Suzhou, Hangzhou, and Guangzhou), 2 sub-branches (including Tianjin Binhai, Suzhou Industrial Park), and 3 representative offices (Shenyang, Dalian, and Chongqing).