Sumitomo Mitsui Banking Corporation
Headquartered in Tokyo, Sumitomo Mitsui Banking Corporation (SMBC) is a global financial institution and a core member of Sumitomo Mitsui Financial Group (SMBC Group). SMBC is one of the largest Japanese banks by assets, with strong credit ratings across our global integrated network spanning over 41 countries and regions, 16 of which are here in Asia.
Growing fees, higher rates lift Sumitomo Mitsui Trust Bank’s profits
Growing fees, higher rates lift Sumitomo Mitsui Trust Bank’s profits
SMTH’s low-risk asset portfolio meant that profitability is weak.
Japan’s SMFG issues new shares worth $23.89m
The move is part of its stock compensation plans.
Basel III to improve Japanese major financial groups’ profits
However, risk-weighted assets for the four FIs are expected to rise.
SMBC’s US digital lender Jenius Bank hits $1b in savings deposits
It will roll out a mobile app in the coming months.
APAC’s Top 20 banks' combined revenue up 4.3% in 2023
Japanese banks were the biggest winners whilst Chinese banks’ total revenue dipped.
Japan’s SMBC bookmarks $64m for social value activities
The group has also established an investment fund.
Japan’s Sumitomo Mitsui mulling stock split
It has not yet decided whether to push through or not, however.
Sumitomo Mitsui Card offers 1.98% merchant fees to SMEs
SMEs in Osaka will also be able to avail of an android terminal for free.
Japanese banks back fund to develop space industry
SMBC, MUFG, and Mizuho Bank are all named limited partners.
Japan’s SMBC joins JV to support drug discovery start-ups
The bank will own 33.2% of the JV company, which will be established mid-2024.
Japan’s SMBC opens a branch in India’s GIFT City
The branch is slated to open in the first half of 2024.
Japanese banks ‘less reluctant’ to finance hostile takeovers: report
Banks are seeing a rise of deals related to unsolicited bids for corporate takeovers.
SMBC reels new managing executive officer and co-head for Asia Pacific
Katsufumi Uchida succeeds Yuichi Nishimura in this role.
SMFG profits up 3.5% to $5.3b
An earnings per share of approximately $4 has been announced for the period.
SMBC appoints ex-Credit Suisse China CEO as new APAC managing director
Carsten Stoehr will join SMBC on 19 February after 25 years in Credit Suisse.
SMBC subsidiary establishes aircraft financing, leasing platform
The investment is targeted at US$1.5b for a three-year period.
SMBC’s Indonesian arm begins offering ESG deposit product
BTPN will earmark deposits made under this for financing in the ESG field.
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