Sumitomo Mitsui Banking Corporation
Encyclopedia
is a Japanese bank based in Yurakucho, Chiyoda, Tokyo
, Japan
. It is a member of the Sumitomo Group
and Mitsui Group
. As of the year 2009, SMBC was the second largest bank in Japan in terms of assets.
Chiyoda, Tokyo
is one of the 23 special wards in central Tokyo, Japan. In English, it is called Chiyoda ward. As of October 2007, the ward has an estimated population of 45,543 and a population density of 3,912 people per km², making it by far the least populated of the special wards...
, Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
. It is a member of the Sumitomo Group
Sumitomo Group
is one of the largest keiretsu, founded by Masatomo Sumitomo.-History:The Sumitomo group traces its roots to a bookshop in Kyoto founded circa 1615 by a former buddhist priest,...
and Mitsui Group
Mitsui
is one of the largest corporate conglomerates in Japan and one of the largest publicly traded companies in the world.-History:Founded by Mitsui Takatoshi , who was the fourth son of a shopkeeper in Matsusaka, in what is now today's Mie prefecture...
. As of the year 2009, SMBC was the second largest bank in Japan in terms of assets.
History
- 1683: Shogunate granted Mitsui TakatoshiMitsui Takatoshi, founder of the Mitsui conglomerate. The second son of Mitsui Sokubei, a grocer and pawnbroker of Matsusaka , in Mie, he showed a remarkably precocious talent for business from an early age, and, moving to Edo at 14 years of age, where he was later joined by his brothers Toshigutsu, and...
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 The seven major banks of Hyogo Prefecture are merged 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 by 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 thereafter.)
- October, 1951 Nihon Mujin is renamed Nihon Sogo Bank.
- December, 1952 Osaka Bank's name is restored to Sumitomo Bank.
- January, 1954 Teikoku Bank's name is restored to 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.
- April, 1992 Mitsui Taiyo Kobe Bank is renamed Sakura Bank.
- June, 1996 The Wakashio Bank, Ltd. is established, and starts operation 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, and SMBC then 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 gang involving conmanConfidence trickA confidence trick is an attempt to defraud a person or group by gaining their confidence. A confidence artist is an individual working alone or in concert with others who exploits characteristics of the human psyche such as dishonesty and honesty, vanity, compassion, credulity, irresponsibility,...
"Lord" 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 LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
branch in 2006. 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 the trial.
Structure
The Sumitomo Mitsui Banking Corporation is organised in the following structure:- Consumer Banking Unit
- Middle Market Unit
- Corporate Banking Unit
- Investment Banking Unit
- International Banking Unit
- Treasury Unit
- Compliance Unit
- Corporate Staff Unit