Sumitomo Mitsui Financial Group

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See also: Sumitomo Group
Sumitomo Mitsui Financial Group, Inc.
株式会社三井住友フィナンシャルグループ
Public
Traded as TYO: 8316
NYSE: SMFG
Industry Banking, Financial services
Predecessor Sumitomo Mitsui Banking Corporation
Founded December 2, 2002
Headquarters Chiyoda-ku, Tokyo, Japan
Area served
 Worldwide
Key people
 Teisuke Kitayama (President)
Services Personal Banking
Corporate Banking
Investment Banking
Investment Management
Wealth Management
Mortgages
Credit Cards
Revenue Increase ¥3.073 billion (2011)[* 1]
Profit Increase ¥550.84 billion (2011)[* 1]
Total assets Increase ¥9.753 trillion (2015)[* 1]
Total equity Increase ¥5.303 billion (2011)[* 1]
Number of employees
 62,379 (2011)[* 1]
Subsidiaries Sumitomo Mitsui Banking Corporation

SMFG Card & Credit Co., Ltd.
Sumitomo Mitsui Finance and Leasing Company, Limited
The Japan Research Institute, Limited

SMBC Friend Securities Co., Ltd.
Website http://www.smfg.co.jp/english/
Footnotes / references
  1. ↑ 1.0 1.1 1.2 1.3 1.4 Lua error in package.lua at line 80: module 'strict' not found.

Sumitomo Mitsui Financial Group, Inc. (SMFG; 株式会社三井住友フィナンシャルグループ Kabushiki kaisha mitsui sumitomo finansharu gurūpu?) is a Japanese bank holding / financial services company established by Sumitomo Mitsui Banking Corporation, which is the second largest bank in Japan by market value (as of Nov 2009).

It holds assets of around US $1.8 trillion and is one of the largest financial institutions in the world.

Group companies

History

December 2002

Sumitomo Mitsui Financial Group, Inc. (SMFG) is established through a share transfer from Sumitomo Mitsui Banking Corporation. SMFG's shares become listed on the first section of the Tokyo Stock Exchange, the Osaka Securities Exchange and the Nagoya Stock Exchange.

February 2003

Sumitomo Mitsui Card Company, Limited, SMBC Leasing Company, Limited, and The Japan Research Institute became wholly owned subsidiaries of SMFG.

June 2004

SMFG reached an agreement to form a strategic alliance with Promise Co., Ltd. on consumer finance business. The two firms started collaborative business in April 2005.

April 2005

SMFG reached an agreement to form a strategic alliance with NTT DoCoMo on credit card business. A portion of the shares of Sumitomo Mitsui Card held by SMFG were transferred to NTT DoCoMo, and Sumitomo Mitsui Card issued new shares and allocated them to NTT DoCoMo by means of third party allocation in July 2005. Collaborative business began in December 2005.

September 2006

SMBC Friend Securities became a wholly owned subsidiary of SMFG.

October 2006

SMFG reached an agreement to pursue strategic joint business with the Sumitomo Corporation group in the leasing and auto leasing businesses.

May 2009

SMFG acquires Nikko Cordial, a brokerage, from Citigroup.

January 2012

The company has agreed to buy Royal Bank of Scotland Group Plc's aircraft leasing division for $7.3 billion in the world's biggest acquisition of a leasing business as of January 2012.[1]

September 2014

It raises profit estimate.[2]

December 2014

Sumitomo announced that they would acquire Citigroup’s Japanese consumer banking business for a fee of around $334 million.[3]

See also

References

  1. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ Japan's SMFG raises H1 net profit estimate by 39 pct
  3. ↑ Sumitomo Mitsui to buy Citigroup's Japan retail unit. Reuters, 9 December 2014

External links

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