12 TopicsTwenty years have passed since Sumitomo Mitsui Banking Corporation (SMBC) was established in April 2001.
This page introduces 12 major past events that highlight the history of SMBC Group.

Sumitomo Mitsui Banking Corporation (SMBC) was formed in 2001 through the merger of Sakura Bank and Sumitomo Bank. The new bank was launched in an environment of unprecedented financial turmoil. It was under such a backdrop that we embarked on our journey to make SMBC the most trusted brand in banking and become a true global player.

In 2009, Nikko Cordial Securities, one of the three major Japanese securities firms, joined SMBC Group. The commercial banking and securities arms of SMBC Group are enhancing collaborations with each other in and outside of Japan. Renamed SMBC Nikko Securities in 2011 and merging with SMBC Friend Securities in 2018, SMBC Nikko Securities is leading the securities business of SMBC Group.

In 2010, Sumitomo Mitsui Financial Group (SMFG) listed on the New York Stock Exchange (NYSE). This was a long-standing goal of the Group. The objective was to expand and diversify SMBC Group’s investor base while enhancing SMBC’s reputation as a global bank by establishing the transparency and soundness of SMBC Group’s corporate activities.

SMBC is known for its world-leading capabilities in project finance. It has established a proven track record in renewable energy and other areas. As a result, SMBC has been awarded ”Global Bank of the Year” by Project Finance International six times since 2008.
(Photo: Wind-power generation project in South Africa)

In 2004, SMFG formed a capital alliance with Promise, a leading consumer finance company. In 2012, Promise became a subsidiary of SMFG and was renamed SMBC Consumer Finance. The company is strengthening collaborations with other Group companies in a wide range of areas including products, distribution channels, and credit screening know-how.

SMFG is pursuing a multi-franchise strategy in emerging Asian economies with the aim of creating a second and third SMBC Group in the region. In 2013, SMBC acquired a stake in Indonesia’s BTPN, turning the bank into a subsidiary in 2019. In 2021, SMBC Group acquired stakes in financial institutions in Vietnam, the Philippines, and India.

As part of efforts to expand the scope of our operations and global footprint, SMBC Group pursues an in-organic strategy to grow businesses through partnerships and acquisitions. One of our major acquisitions was an aircraft leasing business in 2012, which was renamed SMBC Aviation Capital.

As cashless payment rapidly gains popularity, Sumitomo Mitsui Card Company developed innovative services such as stera and Custella. SMBC Group aims to become the frontrunner in Japan’s cashless payment services market by offering solutions that address the needs of both consumers and retailers.

In 2015, SMBC Trust Bank acquired the retail banking business of Citibank Japan to create the new brand PRESTIA. SMBC Trust Bank offers a range of services with a special focus on foreign currency, trusts, and real estate.

SMBC Group has developed new digital business solutions. The Group introduced the business matching service Biz-Create in 2019 and the digital platform PlariTown in 2020. SMBC Group strives to support the digital transformation and new business development of corporate customers.

SMBC Group supports top-level para-athletes. As members of Team SMBC, they participate in major international tournaments and take part in activities to promote public understanding of people with disabilities.
(Photo: Joint Group send-off party)

In 2020, SMFG published SMBC Group Statement on Sustainability. Based on this, SMBC Group GREEN×GLOBE 2030, a ten-year plan up to 2030, was established to set long-term sustainable development goals, including 20 trillion yen of green finance.