The Sumitomo Mitsui Banking Corporation Group is a Japanese multinational banking and financial services institution headquartered in Yurakucho, Chiyoda, Tokyo, Japan. The group operates in the retail, corporate and investment banking segment across the globe. It provides financial products and services to a wide range of customers, including individuals, small and medium-sized enterprises, large corporations, financial institutions and public sector entities. Since 2011, it has been included in the Financial Stability Board’s list of Global Systemically Important Banks.
The main subsidiary banking unit of the SMBC Group is Sumitomo Mitsui Banking Corporation (SMBC). Sumitomo Mitsui Financial Group serves as the holding company for the group. Other major subsidiaries include SMBC Nikko Securities, SMBC Trust Bank, Sumitomo Mitsui DS Asset Management, Sumitomo Mitsui Finance & Leasing and Japan Research Institute (JRI).
SMBC Group operates in over 40 countries and has a presence in all international financial centers as the world’s 12th largest bank by total assets. It is one of the largest global financial institutions in the project finance sector by total loan value.] As of May 2020, SMBC Group is listed as the 80th largest public company in the world, according to the Forbes ranking.
It is the second largest banking institution in Japan by total assets and market capitalization. Along with MUFJ Financial Group and Mizuho Financial Group, SMBC Group is known as a Japanese megabank, one of the three largest banking institutions that dominate market share in Japan’s financial system. It is closely associated with Sumitomo and Mitsui Keiretsu.