SMBC meaning in Banking ?

Answer:

What is Sumitomo Mitsui Banking Corporation mean?

Sumitomo Mitsui Banking Corporation Group (SMBC Group; 株式会社三井住友銀行, Kabushikigaisha mitsui sumitomo ginkō) is a Japanese multinational banking and financial services institution headquartered in Yurakucho, Chiyoda, Tokyo, Japan. The group operates in retail, corporate, and investment banking segment worldwide. It provides financial products and services to a wide range of clients, including individuals, small and medium-sized enterprises, large corporations, financial institutions and public sector entities. Since 2011, it has been included into the Financial Stability Board's list of global systemically important banks.

SMBC group operates in over 40 countries and maintains a presence in all International Financial Centres as the 12th biggest bank in the world by total assets. It is one of the largest global financial institutions in project finance space by total loan value. As of May 2020, SMBC group is listed as 80th largest public company in the world according to Forbes ranking.

It is the second largest banking institution by total assets and market capitalization in Japan. Along with MUFJ Financial Group and Mizuho Financial Group, SMBC group is referred to as a Japanese megabank, one of the three largest banking institutions who dominate market share in Japan's financial system. It is closely affiliated with Sumitomo and Mitsui keiretsu.

The core subsidiary of SMBC group is the banking unit, Sumitomo Mitsui Banking Corporation (SMBC). Sumitomo Mitsui Financial Group acts as the holding company for the group. The other major subsidiaries include SMBC Nikko Securities, SMBC Trust Bank, Sumitomo Mitsui DS Asset Management, Sumitomo Mitsui Finance and Leasing and Japan Research Institute (JRI).

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