News Release

Reduction of Short-term Prime Rate(1/1)

Sumitomo Mitsui Banking Corporation



Reduction of Short-term Prime Rate



TOKYO , December 25, 2008 --- Sumitomo Mitsui Banking Corporation (President Masayuki Oku) announced today that it has decided to reduce its short-term prime rate on January 13,2009.




1. New short-term prime rate


1.475% per annum (former rate: 1.675% per annum)



2. Date of reduction


January 13, 2009



3. Application


The new rate will be applied to loans originated on and after January 13, 2009.  For existing loans, the new rate will be applied from the first interest payment date on and after January 13, 2009.


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