About bank
Sumitomo Mitsui Banking Corporation is a leading global financial institution founded in Japan.The bank offers personal, corporate, and investment services in 40 countries worldwide.
Sumitomo Mitsui Banking Corporation (SMBC) was founded in 1975 in Japan. It is a member of the Sumitomo Mitsui Financial Group which offers financial services globally. The bank has its headquarters in Tokyo, Japan, and has branches in 40 countries worldwide. Most of the branches are in Asia (16 branches). SMBC is the first foreign financial institution to open a branch in the Philippines in 2015, although they had a branch office in the country since 1975. The company offers financial services to businesses around the globe and has a strong foundation in Asia.
Pros and cons
Before you start using the bank’s products and services, it is important to consider all its advantages and disadvantages.
Pros
- Their advanced network offers innovative financial solutions across borders to help businesses.
- They have a comprehensive cash management model with low and high-value clearing systems, which enables the bank to settle statutory and tax payments.
Cons
- Most of their services are centered in Asia and are not easily accessible in some regions.
- Customer care might take long to respond, which might be inconveniencing in case you have an urgent concern.
Products
SMBC offers the following products and services.
- Loan syndication. SMBC offers seamless syndication for loans with focus on relationships. Businesses and corporates can access innovative financing solutions from the SMBC group for the smooth running of business activities.
- Project and export finance.Financing a project can be cumbersome for a business. The SMBC group has expert teams in different projects that help their clients access finances to fund their projects. The team's extensive knowledge in project finance is proven through the awards in leading global finance companies and advisors.
- Sustainable finance. SMBC bank offers financial solutions to projects that promote environmental conservation including renewable energy-related projects, sustainable real estate, green sustainability bonds, and loans to finance green projects. This product is offered mainly for projects that conserve the environment.
- Transaction banking. The bank provides comprehensive cash management solutions to its clients in the Asia Pacific region. This ensures the businesses never lack working capital for their needs.
- Structured trade finance. Businesses in the financial and commodity market can access financial aid from SMBC. The company’s trade finance experts will offer customized solutions to your business to help you achieve your liquidity needs and minimize the risk.
- Yen clearing.SMBC helps financial institutions with Yen clearing services. Being a member of all clearing systems in Japan has helped the bank to execute clearance efficiently and fast on behalf of their clients.
- Custody and securities service.Through the bank of Japan, SMBC offers custody, clearing and settlement, and collateral management services to investors.
- Treasury solutions. SMBC has a strong credit rating, commendable lending relationship, and extensive local presence in Asia. This has enabled it to offer treasury solutions to businesses within Asia with valuable market insights and risk management solutions to their clients.
- M&A and sponsor finance. The bank offers loans for mergers and acquisitions to support customers during events. The bank also offers expert advice on how to track the expenses in M&A from the start to the end.
- Maritime asset, shipping, and aviation finance. SMBC offers bespoke financial solutions to the maritime industry globally. The maritime finance experts from the SNBG group help maritime industries to arrange, structure, and coordinate services with limited recourse debt, export credits, and complex financial projects.
- Real estate finance. SMBC offers extensive financial solutions to real estate developers in more than 29 cities across Asia. Their financial solutions cover limited recourse and corporate finance, investment properties, greenfields and development projects, and diverse property. Business people owning retail malls, the hospitality industry, business parks, and student accommodation are some of the benefactors of real estate financing.
- Islamic finance. SMBC has a team of experts that deal with Islamic finances across Asia. The team optimizes the use of Shariah-compliant financial solutions in corporate finance, asset finance, project finance, and financial institutions. The team is based in Malaysia and offers Islamic financing through the International Currency Business Unit (ICBU). The industries financed include telecommunication, manufacturing, real estate, and the public sector. The bank enhances structural and credit products in the Islamic sector.
- Securitization and structured debt financing. SMBC bank offers local and cross-border financing to their customers. The products offered include credit cards, auto loans, airline tickets, trade receivables, equipment leases, consumer finance, and mortgages.
- Gateway to Japan. Investors willing to invest in Japan can benefit from the “Gateway to Japan,” where the bank provides a one-stop service center for all the investment activities. The bank offers expert services in M&A, business merging, and government incentives. They also offer to finance Japanese-based real estate investment under this product, including non-recourse loans.
