Sumitomo Mitsui Banking Corporation

The bank's coverage specialists and product professionals work together to leverage Sumitomo Mitsui Banking Corporation's global strength to meet clients' comprehensive needs including working capital needs, treasury management, trade finance & solutions, capital raising, risk management, forex and fixed income. With a global network of intermediaries and counterparties, Sumitomo Mitsui Banking Corporation offer access to a wide range of investment products and solutions backed by reliable, unbiased and consistent advice. Sumitomo Mitsui Banking Corporation is one of largest commercial bank in Japan and one of the largest regional banks in Southeast Asia.

The Singapore branch provides full commercial banking services in this prime investment location. Singapore operations make up as one of the largest part of Sumitomo Mitsui Banking Corporation's business overseas, with commercial and retail banking dominating.

As a Full Banks in Singapore, Sumitomo Mitsui Banking Corporation may provide the whole range of commercial banking business approved under the Banking Act.  Besides commercial banking, which includes deposit taking, the provision of cheque services and lending, Sumitomo Mitsui Banking Corporation may also carry on any other business which is regulated or authorized by MAS, including financial advisory services, insurance broking and capital market services.

Commercial banks in Singapore are licensed under and governed by the Banking Act. They may undertake universal banking. Besides commercial banking, which includes deposit taking, the provision of cheque services and lending, the banks may also carry on any other business which is regulated or authorised by MAS, including financial advisory services, insurance broking and capital market services. (Section 30 of the Banking Act defines the permissible activities). Commercial banks and their representatives do not have to be separately licensed to carry out such activities, but must comply with the business conduct requirements prescribed in the Financial Advisers Act (FAA), Insurance Act (IA) and Securities and Futures Act (SFA) accordingly.