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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 (gSMBCh, President: Takeshi Kunibe) and Brazilfs largest financial institution, Banco do
Brasil, entered into a new Memorandum of Understanding on Mutual Business
Cooperation (gMOUh) with on July 30, 2014.
With a population of approximately 200 million and a
territory of 8.51 million square kilo meters,
In 2004, SMBC
entered into its first MOU with Banco do Brasil which opened access to SMBCfs
domestic ATM Network for Banco do Brasilfs 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 clientfs global growth
needs and project finance needs in
Overview
of Banco do Brasil
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: