SMBC re-enters business banking in India
(7 May 2013 – India) Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has launched a commercial banking business in India, encouraged by India’s high growth potential.
SMBC said its re-entry into India is a sign of its commitment to the country and to its banking and finance sector.
"We are encouraged by the high growth potential of the region and believe that India is an important emerging market and will help us realize our mission of becoming a full-line global financial services group,' said President and Chief Executive, Takeshi Kunibe.
SMBC has a significant exposure to India through foreign currency loan extended by their overseas offices and has advised several infrastructure projects.
It is a partner with Delhi Mumbai Industrial Corridor Development Corporation for advising and bringing financing solutions to DMIC.
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