Sumitomo Mitsui Financial Group, Inc.

Sumitomo Mitsui Banking Corporation

 

 

Organizational Revision of SMFG and SMBC

 

 

TOKYO , September 29, 2008 --- Sumitomo Mitsui Financial Group, Inc. (SMFG, President: Teisuke Kitayama) and Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced today revision of organizational structures of both companies effective October 1, 2008.  The outline of the revision is as follows.

 

 

<Organizational Revision of SMFG>

 

SMFG will newly establish Card Business Department to strengthen the cooperation within SMFG group, in accordance with the promotion of its credit card business strategy.

 

 

<Organizational Revision of SMBC>

 

SMBC will newly establish Risk Management Dept., Americas Division and Risk Management Dept., Europe Division, to further strengthen the enterprise wide risk management, as well as the regional risk management in both Americas and Europe divisions.