News Release


Sumitomo Mitsui Banking Corporation and RHB Bank Berhad Sign Memorandum of Understanding (1/1)

December 15, 2010

 

Sumitomo Mitsui Banking Corporation

 

Sumitomo Mitsui Banking Corporation and RHB Bank Berhad
Sign Memorandum of Understanding

 

TOKYO, December 15, 2010 – Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced today signing of a Memorandum of Understanding on Mutual Business Cooperation with RHB Bank Berhad (RHB, Managing Director: Datof Tajuddin Atan), the 4th largest banking in Malaysia by market capitalization.

 

This MOU reaffirms the commitment between SMBC and RHB and further strengthens the long-standing relationship built through the strategic alliance spanning over 30 years, and opens areas of opportunities for SMBCfs new commercial banking subsidiary presence in the first half of fiscal year 2011, including cash management services, trade finance, corporate banking, and development of new domestic and cross border businesses in investment banking areas such as debt capital market, environmental business, islamic Finance and structured finance.

 

This MOU is another step in SMBCfs ongoing efforts to deliver full-line value-added products and services to customers in Malaysia and South East Asia

 

 

Profile of RHB Bank Berhad

 

Established:                       4th Oct 1965 (Development and Commercial Bank D&C)

                                          1st July 1997 (Official Name Change to RHB Bank)

Head Office:                      Level 10, Tower 1, RHB Centre, Jalan Tun Razak

50400 Kuala Lumpur, Malaysia

Chairman:                          Tan Sri Azlan Zainol

Managing Director:             Datof Tajuddin Atan

Total Assets:                       RM 106,096 million (as of December 2009)

 




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