Company Overview of Sumitomo Mitsui Banking Corporation
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...
Founded in 1876
Key Executives for Sumitomo Mitsui Banking Corporation
Chief Executive Officer, President and Representative Director
Director and President of Sumitomo Mitsui Financial Group, Inc
General Manager- Investment Banking
Deputy President, Executive Officer and Representative Director
Compensation as of Fiscal Year 2014.
Sumitomo Mitsui Banking Corporation Key Developments
Sumitomo Mitsui Banking Corporation Announces Non-Consolidated Earnings Results for the Fiscal Year Ended March 31, 2015; Provides Earnings Non-Consolidated Guidance for the Interim Period of Fiscal 2016 and Fiscal Year Ending March 31, 2016
May 13 15
Sumitomo Mitsui Banking Corporation announced non-consolidated earnings results for the fiscal year ended March 31, 2015. For the year, the company reported gross domestic profit of JPY 1,097,724 million against JPY 1,112,008 million a year ago. Domestic net interest income was JPY 863,538 million against JPY 880,647 million a year ago. Gross international profit was JPY 536,560 million against JPY 446,175 million a year ago. International net interest income was JPY 257,890 million against JPY 184,258 million a year ago. Banking profit (before provision for general reserve for possible loan losses) was JPY 843,073 million against JPY 812,438 million a year ago. Ordinary profit was JPY 955,992 million against JPY 3,476 million a year ago. Income before income taxes was JPY 947,648 million against JPY 946,483 million a year ago. Net income was JPY 643,015 million against JPY 605,255 million a year ago. Ordinary income was JPY 2,370,998 million against JPY 2,342,582 million a year ago.
The company provided earnings non-consolidated guidance for the interim period of fiscal 2016 and fiscal year ending March 31, 2016. For the interim period, the company expects to report gross banking profit of JPY 800.0 billion, banking profit (before provision for general reserve for possible loan losses) of JPY 390.0 billion, ordinary profit of JPY 390.0 billion, and net income of JPY 280.0 billion.
For the fiscal year, the company expects to report gross banking profit of JPY 1,580.0 billion, banking profit (before provision for general reserve for possible loan losses) of JPY 760.0 billion, ordinary profit of JPY 740.0 billion, and net income of JPY 510.0 billion.
Asian Development Bank Signs Public-Private Partnership Co-Advisory Agreement with Eight Global Commercial Banks
May 5 15
The Asian Development Bank (ADB) has signed a public-private partnership (PPP) co-advisory agreement with eight global commercial banks, a move aimed at accelerating the flow of private funds into critical infrastructure projects in developing Asia. This agreement is the first formal co-advisory framework between a multilateral development bank and international commercial banks. The eight banks that signed the agreement are Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Credit Agricole CIB, HSBC, Mizuho Bank, Macquarie Capital, Societe Generale, and Sumitomo Mitsui Banking Corporation. The agreement was signed on the sidelines of ADB's 48th Annual Meeting of its Board of Governors, being held here from 2-5 May 2015. Under the agreement, ADB and the eight banks can work together to provide independent advice to governments in developing Asia on how best to structure PPPs to make them attractive to the private sector and to manage the subsequent PPP bidding process. The governments will, however, make the final choice of PPP winning bidders. ADB has estimated that developing Asia needs to spend $8 trillion between 2010 and 2020 on national infrastructure. Many governments hope to raise finance for energy, roads, railways, ports, airports, water, and other key infrastructure through PPPs. ADB, with its co-advisors, will help clients assess the future income flows of projects, bring international best practices to PPPs, and develop PPP capacity in the region to deliver bankable transactions. ADB has been supporting the efforts of countries in the region to improve their PPP regimes for some time. On 1 September 2014, it formally established the Office of Public-Private Partnership to provide independent transaction advice on specific deals and help countries improve their PPP knowledge and legal and regulatory frameworks.
Sumitomo Mitsui Banking Corp to Open Branch in Yangon
Apr 22 15
Sumitomo Mitsui Banking Corp. announced that the bank will open branch on 22 April 2015 and 23 April 2015 in Yangon.
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