The predecessor of Mitsui Corporation is Mitsui Bank – a private bank with a capital stock of two million Yens – which was established in 1976. On its part, Sumitomo Mitsui Banking Corporation
was formed through the merger of Sakura Bank and Sumitomo Bank
in 2001. The new joint venture had a stock capital of ¥1,276 billion. The corporation’s central office is in Tokyo, Japan, and it is also represented in China, India, Hong Kong, Taiwan, Korea, Singapore, Malaysia, Australia, USA, Mexico, Canada, Brazil, UK, Germany, Belgium, France, Italy, the Czech Republic, Russia, UAE, Bahrain and Egypt. Such a strong international presence naturally presupposes strict organization and discipline. Mitsui Corporation`s President, Mr. Masayuki Oku, is managing the 21,816 officials of his financial empire with an iron hand in a velvet glove.
Sumitomo Mitsui Banking
, a member of Sumitomo Mitsui Financial Group, is the third largest bank in Japan
. The bank’s retail banking services include account management and money transactions, the full range of banking cards (serviced by the bank’s division Mitsui Card), short and long-term deposits and savings plans, consumer and mortgage loans, investment and taxation advisory, pension funds, and insurance services. The services of Mitsui Bank are also accessible through online, telephone and WAP banking channels.
The finance and leasing division of Sumitomo Mitsui Banking caters for the financial needs of small and medium-sized enterprises, providing them with tailored banking services
including project financing, leasing solutions for the purchase of equipment and raw materials, business insurance, etc.
Sumitomo Mitsui Banking Corporation is also providing for the financial needs of a large number of corporate clients in Japan and internationally. The range of Mitsui’s corporate banking services encompasses trade financing, structured financing in the sectors of infrastructure, shipping, aircraft transportation, environmental care, syndicated loans, project financing, market analyses and investment advisory, cash and treasury management services, Yen clearing, custody and securities services, while the group’s Capital Markets business provides financial services in the fields of investment and derivatives.
The latest financial results released by Sumitomo Mitsui Banking Corporation show a net profit of 115.248 million Yen (1 euro = 138.20 yens) for the first half of 2009, accompanied by net income of 73 million Yen and total assets of ¥ 116,894,603.
In April 2008, the name of Mitsui Corporation appeared in a scandal involving con-artist Hugh Rodley, security officer Kevin O’Donoghue and David Nash, owner of a sex shop in Soho, who were found guilty of an attempted high tech robbery of GBP 229 million from Mitsui’s London branch in 2006. The plot was discovered by the bank’s employees and the gang was brought to court.
Copyright © 2015 Commercial Banks Guide | Privacy