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Sumitomo Mitsui Financial 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
Native name
株式会社三井住友フィナンシャルグループ
Company typePublic
TYO: 8316
NYSESMFG
TOPIX Core 30 Component
IndustryFinancial services
PredecessorSumitomo Mitsui Banking Corporation
FoundedDecember 2, 2002 (2002-12-02)
Headquarters1-2, Marunouchi 1-chome, ,
Japan
Area served
Worldwide
Key people
  • Takeshi Kunibe (chairman)
  • Toru Nakashima (CEO)
Products
Increase JP¥3.949 trillion (2024)[1]
Increase JP¥895 billion (2024)[1]
Total assetsIncrease JP¥281.271 trillion (2024)[1]
Total equityIncrease JP¥16.279 trillion (2024)[1]
Subsidiaries
Websitewww.smfg.co.jp

Sumitomo Mitsui Financial Group, Inc. (株式会社三井住友フィナンシャルグループ), initialed as SMFG until 2018 and SMBC Group since, is a major Japanese multinational financial services group and holding company. It is the parent of Sumitomo Mitsui Banking Corporation (SMBC), SMBC Trust Bank, and SMBC Nikko Securities. SMBC originates from the 2001 merger of Sumitomo Bank with the Sakura Bank, itself a successor to the Mitsui Bank, and the group holding entity was created in December 2002 after which SMBC became its wholly-owned subsidiary.

SMBC Group operates in retail, corporate, and investment banking segment worldwide. It provides financial products and services to a wide range of clients, including individuals, small and medium-sized enterprises, large corporations, financial institutions and public sector entities. It operates in over 40 countries and maintains a presence in all International Financial Centres as the 12th biggest bank in the world by total assets. It is one of the largest global financial institutions in project finance space by total loan value.[2][3] It is headquartered in the Marunouchi neighborhood of Tokyo.[4]

SMBC Group is the second-largest of Japan's three so-called megabanks, with $2 trillion of total assets at end-March 2023, behind Mitsubishi UFJ Financial Group ($2.9 trillion) and just ahead of Mizuho Financial Group ($1.9 trillion).[5] As of 2024, SMBC group was listed as 63rd largest public company in the world according to Forbes Global 2000 ranking.[6][7] It is considered a systemically important bank by the Financial Stability Board.

  1. ^ a b c d "US. SEC Annual Report (Form 20-F)" (PDF). May 2024. Retrieved 8 December 2024.
  2. ^ http://www.pfie.com/Journals/2019/04/11/l/i/l/PFI-Financial-Q1-2019-LT.pdf [dead link]
  3. ^ "IJGlobal Infrastructure Finance league table report" (PDF). ijglobal.com. 2019.
  4. ^ "Company Overview | Sumitomo Mitsui Financial Group". www.smfg.co.jp. Retrieved 2024-05-17.
  5. ^ Yuzo Yamaguchi & Mohammad Taqi (18 June 2023). "Japanese megabanks retain top slots in ranking even as total assets drop". S&P Global.
  6. ^ "SMBC Group in Forbes 2000". Forbes. May 2024. Retrieved 6 Dec 2024.
  7. ^ "The Global 2000 2023". Forbes. Archived from the original on 2024-01-29. Retrieved 2024-02-07.

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