With this approval, SMBCCN can now start taking the necessary steps to open the branch which will become its seventh branch. SMBCCN’s network in mainland China currently comprises six branches (including Shanghai head Office) and two sub-branches.
Sumitomo Mitsui Banking claimed that the establishment of Shenyang Branch is likely to strengthen its overseas network and enable to deliver improved services to its customers.
The bank expects to tap the business opportunity, as Liaoning Province is covered by the Northeast China Revitalization Plan adopted by the Chinese government to revitalize old industrial bases.
