March 31, 2010

 

 

Sumitomo Mitsui Banking Corporation

 

 

Enhancement of Johannesburg Representative Office

 and Business Alliance with Absa Bank Limited

 

 

 

TOKYO, 31 March 2010 --- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced today (i) the enhancement of the functions of its Johannesburg Representative Office; and (ii) agreement on a business alliance between SMBC and Absa Bank Limited, a group company of Barclays Bank PLC, subject to the finalization of terms.

 

Johannesburg Representative Office has obtained the status of a sub-branch of Dubai Branch in Japan, thereby enabling it to enhance its activity and functions. The enhanced office function and business alliance with Absa Bank will enable SMBC to proactively support its clients in South Africa and other African countries.

 

 

 

Profile of Johannesburg Representative Office

Name	Sumitomo Mitsui Banking Corporation, Johannesburg Representative Office
Address	Building Four, First Floor, Commerce Square, 39 Rivonia Road, Sandhurst, Sandton, 2196, South Africa
Representative	Chief Representative: Darryn Solomon
Tel & Fax	TEL: +974-496-7572  FAX: +974-496-7576

 

 

Profile of Absa Bank Limited

 

Established:                   1991

Address:                       3rd Floor, Absa Towers East, 170 Main Street, Johannesburg, 2001

Number of Offices:       1062 staffed outlets（as of Dec 2009）

Total Assets:                 ZAR 717.7 billion （as of Dec 2009）

Capital Ratio:                15.6%（as of Dec 2009）

Barclays’ equity stake:　55.52％

Listed:                         Johannesburg Stock Exchange