Business Services Industry
Big Japanese bank wants local deals.
Australasian Business Intelligence, November, 2006
Byline: Greg Earl
Nov 09, 2006 (The Australian Financial Review - ABIX via COMTEX) -- A Japanese megabank will officially launch a branch in Australia in the week beginning 13 November 2006. The Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Australian Prudential Regulation Authority for the business, which will target areas such as trade finance, leveraged buy-outs and infrastructure. The bank has already identified its interest in backing public-private partnerships, as it has done in the UK. SMBC is one of the world's biggest banks in terms of assets but has trailed other banks in developing products with high margins.
Publication Date: 10 November 2006
SUMITOMO MITSUI BANKING CORPORATION
BANK OF...
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