December 26, 2014 5:58 PM ET

Banks

Company Overview of Sumitomo Mitsui Banking Corporation

Company Overview

Sumitomo Mitsui Banking Corporation, together with its subsidiaries, provides a range of wholesale and retail banking services in Japan and internationally. It operates through the Consumer Banking, the Middle Market Banking, the Corporate Banking, the International Banking, and the Treasury Banking Units. The company offers time deposits; housing loans; unsecured card loans; consumer loans; investment trust products; pension-type, medical, juvenile, home fire, and life insurance services; and foreign currency, subordinated, structured, and corporate mortgage bonds; unsecured card loans; and wealth management services. It also provides lending, loan syndication, structured finance, commitmen...

1-1-2, Marunouchi

Chiyoda-ku

Tokyo,  100-0005

Japan

Founded in 1876

48,824 Employees

Phone:

81 3 3282 8111

Key Executives for Sumitomo Mitsui Banking Corporation

President
Age: 60
President of JRI
Director and President of Sumitomo Mitsui Financial Group
Age: 61
Vice Chairman
Age: 59
Vice Chairman
Age: 59
Compensation as of Fiscal Year 2014.

Sumitomo Mitsui Banking Corporation Key Developments

Sumitomo Mitsui Banking Corporation Announces Executive Changes

Sumitomo Mitsui Banking Corporation (SMBC) has announced that it has appointed Brent Griffiths to head its corporate banking business in Australia. He is to take the place of John Ferreira who was relocated to Singapore to take up the position as deputy head of Asia Pacific.

Citi's Consumer Banking Business Reportedly Set To Enter Final Negotiations

Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Trust Bank, Limited will be in the final stage of negotiations to acquire consumer banking services and credit-card business in Japan from Citigroup Inc. (NYSE:C), Kyodo News reported citing a person familiar with the process. An agreement could be reached as early as 2014 end following a second round of bidding held on November 7, 2014. Sumitomo Mitsui Banking Corporation is hoping to obtain the deposit-taking and ATM operations, while Sumitomo Mitsui Trust Bank, Limited is eyeing the credit-card unit that issues Diners Club cards in Japan.

Sumitomo Mitsui Banking Corporation Announces Non-Consolidated Earnings Results for the Six Months Ended September 30, 2014; Provides Non-Consolidated Earnings Guidance for the Fiscal Year 2015

Sumitomo Mitsui Banking Corporation announced non-consolidated earnings results for the six months ended September 30, 2014. For the period, the company reported gross banking profit was ¥827,758 million compared to ¥821,853 million for the same period a year ago. Ordinary profit was ¥592,455 million compared to ¥523,562 million for the same period a year ago. Income before income taxes was ¥590,532 million compared to ¥522,525 million for the same period a year ago. Net income was ¥408,241 million compared to ¥330,214 million for the same period a year ago. Ordinary income was ¥1,264,890 million compared to ¥1,249,385 million for the same period a year ago. The company provided non-consolidated earnings guidance for the fiscal year 2015. For the period, the company expected net income of ¥530.0 million, ordinary profit of ¥800.0 million and gross banking profit of ¥1,540.0 million.

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