Sumitomo Bank

The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Sumitomo Bank

 

one of the largest commercial banks in Japan. It is a lending center of the Sumitomo financial and industrial group.

The Sumitomo Bank was founded in 1895 as the Kichizaemon Sumitomo banking house, with capital of 1 million yen. In 1948 it was renamed the Bank of Osaka, and in 1952 it reverted to its former name. Its headquarters are in Osaka. As of Mar. 31, 1975, the bank’s capital totaled 66 billion yen ($225 million).

In the early I970’s, the Sumitomo Bank was first among Japanese commercial banks in deposits, loans (calculated on a per-employee and per-branch basis), and profits. It is a leading bank in Japan’s clearing operations. It has 183 branches in the country and 11 branches and agencies abroad, as well as the subsidiaries Sumitomo Bank of California and Sumitomo Bank of Brazil. The Sumitomo Bank of Brazil maintains correspondent relationships with the Bank for Foreign Trade of the USSR and with banks of other socialist countries.

The total balance of the bank as of Mar. 31, 1975, was 8,920 billion yen ($30.3 billion), with deposits of 5,765 billion yen ($19.6 billion), loans of 5,052 billion yen ($17.1 billion), acceptances and guaranties of 1,178 billion yen ($4 billion), and securities of 908 billion yen ($3.1 billion).

B. I. SERGEEV

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Prior to the merger of Sumitomo Bank and Sakura Bank, Sumitomo Bank played a key role in the start-up of Central Pacific Bank, which was founded by Nisei veterans of WWII in 1954, by providing executive leadership until 2002.
A graduate of the University of Tokyo, Ishida joined Sumitomo Bank in 1970.
said its policyholders would be able to link up with the automated teller machines of Sumitomo Bank as of July.
The government has appointed the Industrial Bank of India and Sumitomo Bank to act as advisers for the disposal.
Ltd, Japan, and is guaranteed by The Sumitomo Bank, Ltd.
Sumitomo Bank for the first time in the past three years agreed to provide a new loan of US$100 million to be distributed through three Indonesian banks.
The new company, to be set up with Sumitomo Bank, Sumitomo Trust and Banking Co., Sumitomo Marine & Fire Insurance Co.
Breslin was the seller of the subject property and Firestone, the purchaser, was represented by Joseph Daniels and Sumitomo Bank Leasing & Finance, Inc.
Other investors in the online bank will include Fujitsu Ltd., Sumitomo Bank, Tokyo Electric Power Co.
A spokesman for Sumitomo Bank in Seoul, one of the banks mentioned in the report, declined to comment when contacted by Kyodo News.
Usui, the top bureaucrat at the Finance Ministry, also said a reported merger between Sakura Bank and Sumitomo Bank would be beneficial to the two commercial banks and their customers.
The Sumitomo Bank says it has completed the first implementation of its Global Information System project, using New Era of Networks Inc's enterprise application integration products.
Full browser ?