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Sumitomo Mitsui Banking Corp.

Company Detail

Description

Sumitomo Mitsui Banking Corp. (SMBC), Japan's second largest bank in terms of assets, offers a broad range of financial services such as commercial and investment banking and credit-related services. It has 564 domestic branches and 16 overseas branches, including representative offices in Mexico, Colombia, Chile, and Peru, where it serves clients in the power, oil and gas, petrochemical, telecom, automotive, infrastructure and mining sectors. Through its subsidiaries, SMBC also provides investment advisory and securities services along with research, data processing and management consulting. The Tokyo-based bank was established in 2001 through the merger of two leading banks, The Sakura Bank Ltd. and The Sumitomo Bank Ltd. In 2015 the bank joined Colombia's Financiera de Desarrollo Nacional (FDN), a financial development institution promoting the participation of private firms in the nation's infrastructure sector. SMBC will hold an 8.8% stake in FDN. In addition, it will contribute its infrastructure financing expertise in the country's US$25bn national highway program known as 4G, which was launched by the government last year to build and improve 8,000km of roads and highways through 40 contracts.

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