Chapter 6
Opening a New Chapter in SMBC Group's History

On April 1, 2021, SMBC celebrated the 20th anniversary of its establishment. Over the past two decades, SMBC Group has operated in the midst of tremendous changes in the business environment. Since around 2001, the financial industry has faced historic transformations brought about by an increasing number of non-financial sectors entering the banking business and by diversifying payment methods provided by the emerging fintech businesses. The banking industry thus has been challenged by increasingly fierce competition.

Nonetheless, the Group has identified the broader possibility of achieving growth, primarily through globalization and seizing business opportunities provided by the progress of digitalization and the revision of the Banking Act in Japan to relax regulations on business operations and investment. SMBC Group has constantly transformed itself and evolved to thrive despite the paradigm shifts of the times.

SMBC Group has been, and will continue to be, standing firm on its corporate principles and the business directions it has pursued throughout its history, even when facing changes in the external business environment as well as internal organizational structures and business models. The Group will continue with its challenging endeavors, aiming to fulfill its mission to “grow and prosper together with our customers by providing services of greater value to them,” and to become “a trusted global solution provider committed to the growth of our customers and advancement of society.”