The Sumitomo Bank
Encyclopedia
was a Japan
ese bank based in Osaka
.
It merged with Sakura Bank on April 1, 2001 to form Sumitomo Mitsui Banking Corporation
.
The bank operated a U.S.-based subsidiary
, Sumitomo Bank of California, which was founded in 1952 as a commercial lending institution catering to Japanese-Americans. The U.S. subsidiary was put up for sale in 1997.
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
ese bank based in Osaka
Osaka
is a city in the Kansai region of Japan's main island of Honshu, a designated city under the Local Autonomy Law, the capital city of Osaka Prefecture and also the biggest part of Keihanshin area, which is represented by three major cities of Japan, Kyoto, Osaka and Kobe...
.
It merged with Sakura Bank on April 1, 2001 to form Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation
is a Japanese bank based in Yurakucho, Chiyoda, Tokyo, Japan. It is a member of the Sumitomo Group and Mitsui Group. As of the year 2009, SMBC was the second largest bank in Japan in terms of assets.-History:...
.
The bank operated a U.S.-based subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
, Sumitomo Bank of California, which was founded in 1952 as a commercial lending institution catering to Japanese-Americans. The U.S. subsidiary was put up for sale in 1997.