Sumitomo Mitsui Trust to Reportedly Close Hong Kong Branch
Japan-based Sumitomo Mitsui Trust is reportedly shutting its Hong Kong branch and moving operations to rival hub Singapore.
Sumitomo Mitsui Trust Bank plans to close its Hong Kong branch by June 2026, according to a «Bloomberg» report citing unnamed sources. It will move most of its client operations to Singapore.
The Hong Kong branch opened in August 2013 as the Japanese lender’s first post-merger foreign office. It covers Northeast Asia clients in general corporate lending, shipping finance and aviation finance.
The bank has a separate local subsidiary in Hong Kong for investment advisory services which will remain in operation.
