Sumitomo Mitsui Banking Corporation

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Sumitomo Mitsui Banking Corporation
株式会社三井住友銀行
Type Private (Subsidiary)
Industry Financial services
Predecessors The Wakashio Bank, Ltd. (Renamed on April 1, 2001)
Founded June 6, 1996
(The Sakura Bank, Ltd.: July, 1876)
(The Sumitomo Bank, Ltd.: November, 1895)
Headquarters Chiyoda-ku, Tokyo, Japan
Number of locations 444 branches (as of September 30, 2009)
Area served Worldwide
Key people Takeshi Kunibe
(President)
Services Personal banking
Corporate banking
Investment banking
Revenue Increase ¥2,108,724 million (non-consolidated, March 2011)
Operating income Increase ¥218,075 million (non-consolidated, March 2011)
Profit Increase ¥421,180 million (Mnon-consolidated, arch 2011)
Total assets Increase¥115,484,907 million (non-consolidated, as of March 31, 2011)
Total equity Increase¥5,559,293 million (non-consolidated, as of March 31, 2011)
Employees 22,524 (as of March 31, 2011)
Parent Sumitomo Mitsui Financial Group, Inc.
Subsidiaries Nikko Cordial Securities Inc.
Orix Credit Corporation
Promise Co., Ltd.
Website Sumitomo Mitsui Banking Corporation
SMBC Nihonbashi Branch

Sumitomo Mitsui Banking Corporation (SMBC; 株式会社三井住友銀行 Mitsui sumitomo ginkō?) is Japanese multinational banking and financial services company headquartered in Yurakucho, Chiyoda, Tokyo, Japan. It is a wholly owned subsidiary of Sumitomo Mitsui Financial Group. SMBC is the second largest bank in Japan by asset.[1]

History[edit]

  • 1683: Tokugawa Shogunate grants Mitsui Takatoshi permission to act as a money changer. Takatoshi Mitsui then developed a new system of inter city loans.
  • July 1876: Mitsui Bank is established as a private bank. (Capital stock: ¥2 million)
  • June 1893: Mitsui Bank reorganizes itself as an unlimited partnership.
  • November 1895: Sumitomo Bank is established as a private enterprise.
  • November 1909: Mitsui Bank reorganizes into a limited company. (Capital stock: ¥20 million)
  • March 1912: Sumitomo Bank reorganizes into a limited company. (Capital stock: ¥15 million)
  • December 1936: Seven major banks of Hyogo Prefecture merge into Kobe Bank.
  • December 1940: Dai Nihon Mujin is established.
  • April 1943: Mitsui Bank merges with Dai-Ichi Bank to form Teikoku Bank.
  • August 1944: Teikoku Bank merges with Jugo Bank.
  • July 1945: Sumitomo Bank merges with Hannan and Ikeda Jitsugyo Banks. Kobe Bank begins trust business.
  • April 1948: Dai Nihon Mujin is renamed Nihon Mujin.
  • October 1948: Teikoku Bank is re-established through Dai-Ichi Bank's separation. Sumitomo Bank is renamed Osaka Bank.
  • May 1949: Teikoku Bank's shares become listed on the Tokyo and Osaka stock exchanges. Osaka Bank's shares become listed on the Tokyo and Osaka stock exchanges. (Listed on Sapporo Securities Exchange in April 1950 and Nagoya Stock Exchange in March 1989.)
  • October 1951: Nihon Mujin is renamed Nihon Sogo Bank.
  • December 1952: Osaka Bank's name restored as Sumitomo Bank.
  • January 1954: Teikoku Bank's name restored as Mitsui Bank.
  • April 1960: Kobe Bank's trust division is transferred to Toyo Trust and Banking.
  • April 1965: Sumitomo Bank merges with Kawachi Bank.
  • April 1968: Mitsui Bank merges with Toto Bank.
  • December 1968: Nihon Sogo Bank converts to an ordinary bank and is renamed Taiyo Bank.
  • October 1973: Kobe Bank and Taiyo Bank merge to form Taiyo Kobe Bank.
  • October 1986: Sumitomo Bank merges with Heiwa Sogo Bank.
  • January 1989: Sumitomo Bank's shares become listed on the London Stock Exchange.
  • April 1990: Mitsui Bank and Taiyo Kobe Bank merge to form Mitsui Taiyo Kobe Bank (MTKB).
  • April 1992: Mitsui Taiyo Kobe Bank is renamed The Sakura Bank.
  • June 1996: Wakashio Bank is established, and begins operating in September.
  • April 2001: Sakura Bank and Sumitomo Bank merge to form Sumitomo Mitsui Banking Corporation. (Capital stock: ¥1,276,7 billion)
  • December 2002: Sumitomo Mitsui Banking Corporation (SMBC) establishes a holding company named Sumitomo Mitsui Financial Group, Inc. (SMFG) through a share transfer, SMBC becomes a wholly owned subsidiary of SMFG.
  • March 2003: Wakashio Bank merges with former SMBC. (merged bank's name: Sumitomo Mitsui Banking Corporation)
  • July 2008: Sumitomo Mitsui buys a 2.1 per cent stake in Barclays Bank for £500m.
  • April 2008: A group of criminal hackers including Hugh Rodley, security insider Kevin O'Donoghue and Soho sex shop owner David Nash are found guilty of an attempted high-tech robbery of £229m from Sumitomo Mitsui Banking Corporation's London branch in September 2004. Henchmen Jan Van Osselaer and Gilles Poelvoorde were also found guilty of conspiracy to steal. The plot was discovered by Sumitomo Mitsui staff, and no money was stolen. Another accused, Bernard Davies, died before trial.

Structure[edit]

The Sumitomo Mitsui Banking Corporation is organised in the following structure:[2]

  • Consumer Banking Unit
  • Middle Market Unit
  • Corporate Banking Unit
  • Investment Banking Unit
  • International Banking Unit
  • Treasury Unit
  • Compliance Unit
  • Corporate Staff Unit

Shareholders[edit]

See also[edit]

References[edit]

External links[edit]