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Sumitomo Mitsui Banking Corpn to infuse USD 600 million in India

Friday, 20 Nov 2020
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Sumitomo Mitsui Banking Corporation (SMBC) will make an investment of USD 600 million into India in 2020. It will also open a branch in Chennai, Tamil Nadu.

The infusion doubles SMBC’s capital commitment to its India operations to USD 1.2 billion.

Chennai branch will assist SMBC to grow its customer base in south India. Customers will be able to leverage SMBC’s global network to do business in a variety of sectors and locations. This is SMBC’s third foothold in India following the successful establishment of branches in New Delhi and Mumbai.

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