Sumitomo Mitsui Financial appoints Citi as depositary bank

Citi's Global Transaction Services to act as depository bank for NYSE-listed company.

Japan-based Sumitomo Mitsui Financial Group (SMFG) has appointed Citi's Global Transaction Services as depositary bank for its NYSE-listed Level 2 American Depositary Receipt (ADR) program.

SMFG's ADR program is listed on NYSE under the symbol 'SMFG' and each ADR represents 1/5 of the ordinary shares.

SMFG director and senior managing executive officer Koichi Miyata said, the group expect that their investor relations expertise and global reach will assist SMFG in raising shareholder visibility and broadening investor base world-wide.

Global Transaction Services, a division of Citigroup's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services.

SMFG is the holding company for a Japanese bank Sumitomo Mitsui Banking which is holding assets of around $1.37 trillion.