December 17, 2014

Sumitomo Mitsui Banking Corporation

Commencement of Operations of Madrid Branch,
Sumitomo Mitsui Banking Corporation Europe Limited

TOKYO, December 17, 2014 --- Sumitomo Mitsui Banking Corporation (SMBC, President and CEO: Takeshi Kunibe) announced the opening today of Madrid Branch in Spain of its wholly-owned subsidiary Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE, Chief Executive Officer: Masahiko Oshima). The opening of the Madrid Branch is part of SMBCE’s initiatives to further strengthen its network in Europe.

The Spanish economy, the fifth largest in the European Union, is in a recovery trend.  Further, a significant number of globally active multinational corporates are based in Spain, and they have been actively promoting their businesses in Asia in recent years, as well as in Europe and Latin America where they have strong connections.  Under the current European economic climate, Spain is regarded as one of the important countries to bring the European economy back to growth.

We have been supporting our clients in Spain through a representative office that was established in 1979. However, the financial needs of our clients are expected to grow in parallel with the strengthening of the business environment and growth of the Spanish economy. The opening of Madrid Branch will enable the SMBC group to better meet the diverse needs of clients operating in the region through an enhanced branch network and product offering, including corporate finance and trade finance.  

（Profile of Madrid Branch）