News Release


Sumitomo Mitsui Banking Corporation and Banco do Brasil S.A. sign Memorandum of Understanding on Mutual Business Cooperation(1/1)

August 4, 2014

 

@@@@@@@@@@@@@@@@@@Sumitomo Mitsui Banking Corporation

 

Sumitomo Mitsui Banking Corporation and Banco do Brasil S.A. sign

Memorandum of Understanding on Mutual Business Cooperation

 

 

TOKYO, August 4, 2014---Sumitomo Mitsui Banking Corporation (gSMBCh, President: Takeshi Kunibe) and Brazilfs largest financial institution, Banco do Brasil, entered into a new Memorandum of Understanding on Mutual Business Cooperation (gMOUh) with on July 30, 2014.

 

With a population of approximately 200 million and a territory of 8.51 million square kilo meters, Brazil is the leading economic power in South America ranked 7th globally based on GDP. It is a leading agricultural country with production in coffee, soybean, and corn. Brazil also has an abundance of natural resources, which includes iron ore and crude oil.

 

In 2004, SMBC entered into its first MOU with Banco do Brasil which opened access to SMBCfs domestic ATM Network for Banco do Brasilfs customers.  In 2006, SMBC entered into an Emission Permits Trading Agreement. Since then, we have continued to collaborate on business opportunities such as global trade finance and the settlement business.

 

The current MOU entails the mutual introduction of clients in different parts of the world as well as support for financing needs and will serve to expansion the existing collaboration between our two institutions. Through this partnership, we will reinforce our ability to effectively respond to our clientfs global growth needs and project finance needs in Brazil for mineral resources, water, agriculture, and infrastructure financings.

 

 

Overview of Banco do Brasil S.A.

Established:1808

Location of Head Office:Setor Bancário Sul, Quadra 1, Lote 32, Bloco C, Edifício Sede III, Brasília, Distrito Federal, Brazil

Operating Countries:Brazil, United States, Mexico, Chile, Peru, Argentina, Uruguay, Venezuela, Paraguay, Bolivia, Panama, UK, France, Italy, Portugal, Japan, China, Korea, UAE, Angola etc.

Total Assets:1.3699 trillion Reals (As of the end of March 2014)

Capital Ratio:13.8%  (As of end of March 2014)

Listed:Sao Paulo Securities, Commodities, and Futures Exchange




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