News Release


Commencement of Subsidiary Bank in China(1/1)

Sumitomo Mitsui Banking Corporation

 

 

Commencement of Subsidiary Bank in China

 

TOKYO , Apr. 22nd, 2009  ---  Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) will establish a wholly-owned subsidiary of SMBC, Sumitomo Mitsui Banking Corporation ( China ) Limited (Capital: 7,000 million yuan) , which will commence operations from Apr. 27th.

 

After obtaining approval of its application to commence preparations for the establishment of a wholly-owned subsidiary, SMBC has taken necessary steps to prepare for the establishment of the subsidiary. Under the final approvals received from Japanese and Chinese regulatory authorities, SMBC will transfer its six branches (Shanghai, Beijing, Tianjin, Suzhou, Hangzhou, and Guangzhou) and two sub-branches (Tianjin Binhai, Suzhou Industrial Park) in China to Sumitomo Mitsui Banking Corporation (China) Limited (*).

 

For SMBC, China is one of its most important markets in the world. SMBC will proceed the efforts to provide more comprehensive services to customers.@Meanwhile, China Division and Planning Department , China Division will be abolished upon establishment of the subsidiary on Apr. 27th.

 

(*)SMBC retains the existing Shanghai Branch to assume a part of wholesale foreign currency operations, and keeps its three representative offices ( Shenyang , Dalian , Chongqing ).

 

Profile of the Subsidiary Bank

Name

(English)   Sumitomo Mitsui Banking Corporation (China) Limited
(Chinese)   OZFs()Li
(Japanese) 
OZFsijLi

Structure

Limited Liability Company

Shareholder

Sumitomo Mitsui Banking Corporation (100%)

Capital

7,000 million yuan (about 100 billion yen)

Head Office Location

11F, Shanghai World Financial Center, 100 Century Avenue,

Pudong New Area, Shanghai , People's Republic of China

Representative

Mr. Kozo Masaki, Chairman

Mr. Kazunori Okuyama, President

Business Activities

Deposit taking, lending, domestic exchange, foreign exchange, treasury operations, securities investment, and other finance/banking related business

 

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