SMBC sells MANUBANK’s commercial banking unit to US’ Bank of Hope

Jenius Bank is not part of the transaction.

Sumitomo Mitsui Banking Corporation (SMBC) is selling the commercial banking unit of SMBC MANUBANK to Bank of Hope, a US regional bank.

MANUBANK is a California-based commercial bank and a wholly owned subsidiary of SMBC Americas Holdings, Inc, according to a press release on 1 April 2026.

Jenius Bank, the digital banking business operated by MANUBANK, is not part of the transaction and will not be transferred to Bank of Hope.

SMBC said that the sale will further optimise its resources.

Bank of Hope is a commercial bank wholly owned by the Hope Bancorp, Inc., a Nasdaq listed bank. Bank of Hope has $18.5b in total assets, more than twice the size of Manubank, with 74 branches across the US.

Bank of Hope is said to be aiming to expand its Asian client base as a key strategic priority.