Sumitomo Mitsui Banking Corporation (SMBC), led by President and CEO Akihiro Fukutome, shared that it received permission to launch a new branch called the “GIFT City Branch” in Gujarat International Finance Tec-City (GIFT City). This approval came from the International Financial Services Centres Authority in India and the Financial Services Agency in Japan. SMBC will now begin getting everything ready to open the GIFT City Branch.
Download Press Release HereSMBC in India
SMBC made its debut in India back in March 2013, setting up its initial branch in New Delhi. Following this, branches in Mumbai and Chennai followed suit, opening their doors in March 2017 and November 2020, respectively, to cater to the financial needs of its customers. Now, with the upcoming launch of the GIFT City Branch, which will specialize in foreign currency-denominated lending, SMBC aims to enhance its abilities and resources in serving clients across India.
Benefits of SMBC GIFT City Branch
This approval will have a major benefit of funneling Japanese investments into India with less regulatory hurdles.
Join “WhatsApp News” GroupSMBC GIFT City Branch Details
- Address: 201B, Brigade International, Financial Center, 2nd floor, Building No- 14A, Block-14, Zone-1, Gandhinagar, Gujarat, India, 388235
- Scheduled Opening: In the first half of FY 2024