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Share Name | Share Symbol | Market | Type |
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Swedish Export Credit Capped Leveraged Index Return Notes Linked TO The S&P 500 Index | NYSE:SBK | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 12.60 | 0.00 | 01:00:00 |
BW20030812002039 20030812T131838Z UTC ( BW)(SUMITOMO-MITSUI-BNKG)(SBK) Statement re Progress Report on Strengthening the Financial Base of the Bank - Part 2 Business Editors UK REGULATORY NEWS TOKYO--(BUSINESS WIRE)--Aug. 12, 2003-- (Millions of local currency, except Indonesia (in Billions)) (*5) Operating Net Consolidated Company Name Main Business Income / Profit Equity Method [Sumitomo Mitsui Banking Corporation] --------------------------------------------------------------------------------------------------- ------- ------------ Sumitomo Mitsui Banking Corporation Europe Limited Commercial Banking business 0.6 0.5 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ Manufacturers Bank Commercial Banking business 1.2 0.7 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ Sumitomo Mitsui Banking Corporation of Canada Commercial Banking business 1.0 0.5 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ Banco Sumitomo Mitsui Brasileiro S.A. Commercial Banking business 18.1 12.9 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ PT Bank Sumitomo Mitsui Indonesia Commercial Banking business 26.5 18.4 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SMBC Leasing and Finance, Inc. Leasing business 4.5 1.8 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SMBC Capital Markets, Inc. Investment and derivative business 67.6 43.3 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SMBC Capital Markets Limited Investment and derivative business 0.5 0.3 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ Sumitomo Mitsui Finance Australia Limited Finance business 1.6 1.2 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SMBC Securities, Inc. Securities business 0.1 0.0 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SFVI Limited Investment business 2.0 2.0 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ Sakura Capital Funding (Cayman) Limited Finance business 0.0 0.0 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ Sakura Finance (Cayman) Limited Finance business 0.0 0.0 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ Sumitomo Finance International plc Investment business 1.2 1.2 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SMBC International Finance N.V. Finance business 0.0 0.0 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ BSL Leasing Co., Equity Ltd. Leasing business 10.0 6.7 Method ---------------- ---------------------------------------------------------------------------------- ------- ------------ [ SMBC Leasing Company, Limited ] --------------------------------------------------------------------------------------------------- ------- ------------ SMBC Leasing (Singapore) Pte Ltd. Leasing business (0.8) (0.8) Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SMBC Leasing (Hong Kong) Limited Leasing business 0.8 0.8 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SMBC Leasing (Thailand) Co., Ltd. Leasing business 3.5 2.4 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SMBC Leasing (Guangzhou) Co., Ltd. Leasing business 0.2 0.1 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SMBC Leasing (Malaysia) Sdn. Bhd. Leasing business 0.1 0.1 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ SMBC Leasing (UK) Limited Leasing business 0.0 0.0 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ P.T. EXIM SB Leasing Leasing business 0.0 0.0 Consolidated ---------------- ---------------------------------------------------------------------------------- ------- ------------ (*1) Only the subsidiaries and affiliates which borrowed over one hundred million yen from Sumitomo Mitsui Financial Group or Sumitomo Mitsui Banking Corporation are indicated in these tables. Financial data of foreign subsidiaries and affiliates are denoted by local currency (in millions, except Indonesia (in billions)). (*2) Including bonds and commercial papers. (*3) Including guarantees. (*4) Indicated as the combined basis of SMFG and SMBC. (*5) Based on Sumitomo Mitsui Financial Group's consolidated financial results. (*6) For the companies reporting Operating Losses, Net Losses or Retained Losses, projection of income and position in the group strategy of SMFG and SMBC are described in the next page. (*7) Meiko National Securities Co.,Ltd and Financial Link Company, Limited and two other companies become consolidated companies through acquisition, and nine newly established companies, including Sumitomo Mitsui Banking Corporation Europe Limited are consolidated from the FY02 period. Twenty three companies formerly excluded from the scope of consolidation are consolidated again from FY02 period. SAKURA INVESTMENT MANAGEMENT CO.,LTD and four companies were merged, Sumitomo Mitsui Finance Australia (Securities) Limited and five companies were liquidated, SB AUTO SERVICE CO., LTD. was sold, and they were unconsolidated from the FY02 interim period. SMFG Finance (Cayman) Limited and SMFC Holdings (Cayman) Limited, newly established, and NEC Leasing, Ltd, newly acquired through share acquisition, are accounted as affiliates by equity method since this consolidated fiscal year. Sumitomo Mitsui Asset Management, Ltd is accounted as an affiliate by equity method due to its share acquisition of SAKURA INVESTMENT MANAGEMENT CO, LTD through the merger between the two, since this consolidated fiscal year. In addition, affiliates such as Awagin Lease company, Limited and other eight companies, previously consolidated, has been accounted as affiliates by equity method since this consolidated fiscal year. Meiko National Securities and one other company, being consolidated subsidiaries through acquisition, is excluded from the list of affiliates under equity method. Bangkok SMBC Systems Ltd. and one other company, repudiated, has already been excluded from the list of affiliates under equity method. Details of (*5) Strategic position within Company name Earnings projections group ------------------------------------ -------------------------------------------------------------- ----------------- Investment company strategically created with Daiwa Securities Daiwa SB Investments Ltd. 100 million yen of net income in FY2003 group ------------------------------------ -------------------------------------------------------------- ----------------- Kansai Bank's subsidiary for holding and managing the bank's real The Kangin Service Company, Limited Secure positive bottom line in FY2003 estate ------------------------------------ -------------------------------------------------------------- ----------------- Net loss of 2.8 billion yen in FY2002 (year-over-year increase Internet The Japan Net Bank, Limited of 2.6 billion yen). Striving to go into black at early date. specialized bank ------------------------------------ -------------------------------------------------------------- ----------------- Sumigin Guarantee Company, Limited became its wholly-ownd subsidiary in March 2002. Expected to be in black on SMBC's housing consolidated basis in FY2004, and currently progressing loan guarantee SMBC Guarantee Co., Ltd. nearly in line with targets. subsidiary ------------------------------------ -------------------------------------------------------------- ----------------- Subsidiary providing services to The SB Card Business Company, SMBC's card Limited Secure positive bottom line in FY2003 holders ------------------------------------ -------------------------------------------------------------- ----------------- Group's lone consumer loan Currently in red due to start-up costs. Aiming for black ink specialized At-loan Co., Ltd. at early date by increasing outstanding loan balance. company ------------------------------------ -------------------------------------------------------------- ----------------- Strategic subsidiary for promoting active Expected to be in black in FY2003 thanks to increase in equity management fees from establishment of new funds, and decrease investment in SMBC Capital Co., Ltd. in amount of write-offs of invested stocks. growth companies ------------------------------------ -------------------------------------------------------------- ----------------- SMBC's finance SMBC Mortgage Co., Ltd. Secure positive bottom line in FY2003 subsidiary ------------------------------------ -------------------------------------------------------------- ----------------- SMBC's finance Secure positive bottom line in FY2003 (new company name SMBC and factoring Sakura Finance Service Co., Ltd. Finance Service Co., Ltd. after merger on April 1, 2003) subsidiary ------------------------------------ -------------------------------------------------------------- ----------------- Strategic subsidiary that coordinates financial services such as outsourcing of settlement operations and fund administration Expected to go into black in FY2003 thanks to contracts with SMBC and Financial Link Company, Limited awarded. group companies ------------------------------------ -------------------------------------------------------------- ----------------- Sakura Friend Securities and Meiko National Securities merged in April 2003 to form SMBC Friend Securities Co., Ltd. Net loss (but secured ordinary profit) in FY2002 due to merger- related extraordinary losses. Aiming for net income in FY2003 SMBC's retail as ordinary profit expected to rise thanks to keeping down securities Sakura Friend Securities Co., Ltd. expenses as a merger effect. subsidiary ------------------------------------ ----------------- SMBC's retail securities Meiko National Securities Co., Ltd. subsidiary ----------------------------------------------------------------------------------------------------- ----------------- Created from merger of five asset management subsidiaries of SMBC, Mitsui Mutal Life Insurance Company, Sumitomo Life Insurance Company and Mitsui Sumitmo Insurance Co., Ltd in SMBC's affiliated December 2002. FY2002 net loss (but achieved ordinary company in the Sumitomo Mitsui Asset Management profit). Aiming for positive bottom line by increasing field of asset Company, Ltd. ordinary profit by keeping down expenses as a merger effect. management ------------------------------------ -------------------------------------------------------------- ----------------- One of core players of SMBC's Internet Achieved ordinary profit in FY2002 but negative bottom line. strategy, Strengthening earnings power by keeping down expenses and engaged in other measures to expand ordinary profit in order to achieve retail DLJdirect SFG Securities Inc. positive bottom line. securities ------------------------------------ -------------------------------------------------------------- ----------------- Earnings power incrasing with operation starting to move on Core company in full-scale basis and improving level of services. Aiming for defined positive bottom line at early date but depreciation of contribution initial systems investment drag on earnings and expected to pension plan Japan Pension Navigator Co., Ltd. remain in red for some time to come. business ------------------------------------ -------------------------------------------------------------- ----------------- SPC of SMBC Space Service LLC. Flat Leasing Company ------------------------------------ -------------------------------------------------------------- ----------------- Affiliate of SMBC The Awagin Lease Company, Limited Go into black in FY2003 Leasing Company ------------------------------------ -------------------------------------------------------------- ----------------- Net income in fiscal year ended Dec,2002. Aiming to maintain Investment Sumitomo Finance International plc black figure in fiscal year ended Dec,2003. company ------------------------------------ -------------------------------------------------------------- ----------------- Overseas sbusidiary of SMBC Leasing (Singapore) Pte Ltd. Secure positive bottom line in fiscal year ended Dec. 2003. SMBC Leasing ------------------------------------ -------------------------------------------------------------- ----------------- Overseas sbusidiary of SMBC Leasing (Hong Kong) Limited Secure positive bottom line in fiscal year ended Dec. 2003. SMBC Leasing ------------------------------------ -------------------------------------------------------------- ----------------- Overseas sbusidiary of SMBC Leasing (Guangzhou) Co., Ltd. Secure positive bottom line in fiscal year ended Dec. 2003. SMBC Leasing ------------------------------------ -------------------------------------------------------------- ----------------- Overseas sbusidiary of P.T.EXIM SB Leasing Concentrate on recovering loans with a view to liquidation SMBC Leasing ------------------------------------ -------------------------------------------------------------- ----------------- (Table 10) Loans and Bills Discounted [Sumitomo Mitsui Banking Corporation (Non-conconsolidated)] (Balance) (Billions of yen) Mar.31,02 Mar.31,03 Mar.31,03 actual plan actual (A) (B) (C) ----------------------------------------------------- ------------------------------- ----------- ----------- --------- Domestic including Impact Loans 55,302.2 53,942.2 54,208.0 ------------------------------- ----------- ----------- --------- excluding Impact Loans 53,879.6 52,519.6 53,330.9 ---------------------------------------------------- ------------------------------- ----------- ----------- --------- Small and Medium- including Impact Loans 26,412.3 25,982.3 24,037.3 ------------------------------- ----------- ----------- --------- sized enterprises *1 excluding Impact Loans 25,970.1 25,540.1 23,731.4 ---------------------------------------------------- ------------------------------- ----------- ----------- --------- Loans with guarantee of Credit Guarantee Corporation 2,435.5 2,135.5 1,975.5 ------------------------------------------------------------------------------------ ----------- ----------- --------- Individuals (excluding business loans) 12,493.0 13,143.0 12,775.1 ------------------------------------------------------------------------------------ ----------- ----------- --------- Housing Loans 10,810.8 11,460.8 11,161.4 ---------------------------------------------------- ------------------------------- ----------- ----------- --------- Others 16,396.9 14,816.9 17,395.6 ----------------------------------------------------- ------------------------------- ----------- ----------- --------- Overseas 4,626.2 4,126.2 3,074.4 ----------------------------------------------------- ------------------------------- =========== =========== ========= Total 59,928.4 58,068.4 57,282.4 ------------------------------------------------------------------------------------- ----------- ----------- --------- (Adjusted basis ) (Billions of yen) Mar.31,03 Mar.31,03 plan actual (B)-(A)+(a) (C)-(A)+(b) ----------------------------------------------------- ------------------------------- ----------- ----------- --------- Domestic including Impact Loans (480.0) 1,698.4 ------------------------------- ----------- ----------- --------- excluding Impact Loans (480.0) 2,243.9 ---------------------------------------------------- ------------------------------- ----------- ----------- --------- Small and Medium- including Impact Loans 70.0 (866.0) ------------------------------- ----------- ----------- --------- sized enterprises *1 excluding Impact Loans 70.0 (729.7) #1 ----------------------------------------------------- ------------------------------- ----------- ----------- --------- *1 Small and Medium-sized enterprises = Loans to following enterprises. -Wholesaling enterprise whose capital is Y100 mil. or less or number of employees is 100 or less -Services enterprise whose capital is Y50 mil. or less or number of employees is 100 or less -Retailing enterprise whose capital is Y 50mil. or less or number of employees is 50 or less -Other enterprise whose capital is Y300 mil. or less or number of employees is 300 or less -Unincorporated enterprise (Factors for reduction in loans) (Billions of yen) FY02 Plan (a) FY02 Actual (b) ----------------- ---------------------- Small and Medium- Small and Medium- sized enterprises sized enterprises ------------------------------------------------------------------------------ -------- ------------------------------- Direct Write-offs *1 + 253.6 + 11.6 ------------------------------------------------------------------------------ -------- -------- ---------------------- Secondary losses on loans sold to CCPC *2 + 104.7 + 104.7 ------------------------------------------------------------------------------ -------- -------- ---------------------- Sales and securitization of loans *3 + 880.0 + 500.0 + 891.4 + 312.0 ------------------------------------------------------------------------------ -------- -------- ---------------------- Direct reduction *4 + 434.2 + 326.8 ---------------------------------------------------------------------------- - -------- -------- ---------------------- Sales of loans to RCC *5 + 99.8 + 63.2 ---------------------------------------------------------------------------- - -------- -------- ---------------------- Bulk-sales and others *6 + 321.9 + 296.3 ---------------------------------------------------------------------------- - -------- -------- ---------------------- Others *7 + 687.0 + 394.4 ============================================================================ = ======== ======== ====================== Total + 880.0 + 500.0 + 2,792.6 + 1,509.0 ------------------------------------------------------------------------------ -------- -------- ---------------------- *1 Direct write-offs which are allowed to be tax deductible. *2 Losses due to the disposition of collaterals of loans sold to CCPC, etc. *3 Mainly sales and securitization of normal loans. *4 Of those reduced in this fiscal year. *5 Losses due to the sales of loans to the specific bank defined in Article 53 of Financial Reconstruction Law. *6 Losses due to bulk-sales of problem assets and other credit costs. *7 Amount of credit given that are virtually equivalent to that of loan, such as private placement etc. (Table 13) The Results of Asset Audits in compliance with Article 3.2 of the Financial Revitalization Law (Billions of yen) ------------------------------------------------------------------ ------------- ------------ ------------- ------------ Mar. 31, 02 Mar. 31, 02 Mar. 31, 03 Mar. 31, 03 *1 *1 *2 *3 Non- Consolidated Non- Consolidated consolidated consolidated ------------------------------------------------------------------ ------------- ------------ ------------- ------------ Bankrupt and Quasi-Bankrupt Assets 493.5 638.2 524.9 656.0 ------------------------------------------------------------------ ------------- ------------ ------------- ------------ Doubtful Assets 2,970.2 3,263.4 2,129.5 2,340.2 ------------------------------------------------------------------ ------------- ------------ ------------- ------------ Substandard Loans 2,436.3 2,666.1 2,606.9 2,857.6 ================================================================== ============= ============ ============= ============ Sub-total 5,900.0 6,567.7 5,261.3 5,853.8 ------------------------------------------------------------------ ------------- ------------ ------------- ------------ Normal Assets 60,558.9 61,896.4 57,313.4 59,330.5 ================================================================== ============= ============ ============= ============ Total 66,458.9 68,464.1 62,574.7 65,184.3 ------------------------------------------------------------------ ------------- ------------ ------------- ------------ *1 The numbers of FY01 are those of former Sumitomo Mitsui Banking Corporation. *2 The numbers of FY02 of non-consolidated are those of Sumitomo Mitsui Banking Corporation. *3 The numbers of FY02 of consolidated are those of Sumitomo Mitsui Financial Group. Reserve for Possible Loan Losses (Billions of yen) -------------------------------------------------------------------------------- ------------ ------------- ------------ Mar. 31, 02 Mar. 31, 02 Mar. 31, 03 Mar. 31, 03 *1 *1 *2 *3 Non- Consolidated Non- Consolidated consolidated consolidated ------------------------------------------------------------------ ------------- ------------ ------------- ------------ General Reserve 872.3 929.5 1,113.2 1,173.9 ------------------------------------------------------------------ ------------- ------------ ------------- ------------ Specific Reserve 1,084.1 1,214.7 950.0 1,058.0 ------------------------------------------------------------------ ------------- ------------ ------------- ------------ Loan Loss Reserve for Specific Overseas Countries 15.4 15.4 11.6 11.6 ================================================================== ============= ============ ============= ============ Sub-total 1,971.8 2,159.6 2,074.8 2,243.5 ------------------------------------------------------------------ ------------- ------------ ------------- ------------ Reserve for Possible Losses on Loans Sold to CCPC 80.6 86.4 17.2 20.7 ------------------------------------------------------------------ ------------- ------------ ------------- ------------ Total 2,052.4 2,246.0 2,092.0 2,264.2 ------------------------------------------------------------------ ------------- ------------ ------------- ------------ *1 The numbers of FY01 are those of former Sumitomo Mitsui Banking Corporation. *2 The numbers of FY02 of non-consolidated are those of Sumitomo Mitsui Banking Corporation. *3 The numbers of FY02 of consolidated are those of Sumitomo Mitsui Financial Group. (Table 14) Risk-Monitored Loans (Billions of yen) ------------------------------------------------------------------------------------------------------------------ Mar. 31, 02*1 Mar. 31, 02*1 Mar. 31, 03*2 Mar. 31, 03*3 Non- Consolidated Non-consolidated Consolidated consolidated ------------------------------------------------------------------------------------------------------------------ Bankrupt Loans (A) 195.7 227.5 172.4 201.4 ------------------------------------------------------------------------------------------------------------------ Non-Accrual Loans (B) 3,184.5 3,599.8 2,390.2 2,710.2 ------------------------------------------------------------------------------------------------------------------ Past Due Loans (3 Months or more) (C) 92.3 102.8 114.7 130.3 ------------------------------------------------------------------------------------------------------------------ Restructured Loans (D) 2,344.0 2,554.3 2,492.2 2,728.8 ---------------------------------------------------------------------------------------------------------------- (1)Reduction of the original interest rate 506.0 510.6 523.5 559.5 ---------------------------------------------------------------------------------------------------------------- (2)Forbearance of interest payments 3.5 33.5 8.0 33.2 ---------------------------------------------------------------------------------------------------------------- (3)Loans to supported companies 16.2 16.2 --- --- ---------------------------------------------------------------------------------------------------------------- (4)Forbearance of principal repayments 1,809.5 1,977.7 1950.6 2,121.9 ---------------------------------------------------------------------------------------------------------------- (5)Others 8.8 16.3 10.1 14.2 ------------------------------------------------------------------------------------------------------------------ Total (E)=(A)+(B)+(C)+(D) 5,816.5 6,484.4 5,169.5 5,770.7 ------------------------------------------------------------------------------------------------------------------ Direct Reduction 1,373.7 1,768.8 925.5 1,273.4 ------------------------------------------------------------------------------------------------------------------ Ratio (E)/ Total Loans 9.7% 10.2% 9.0% 9.4% ------------------------------------------------------------------------------------------------------------------ *1 The numbers of FY01 are those of former Sumitomo Mitsui Banking Corporation. *2 The numbers of FY02 of non-consolidated are those of Sumitomo Mitsui Banking Corporation. *3 The numbers of FY02 of consolidated are those of Sumitomo Mitsui Financial Group. (Table 15) Disposition of Problem Assets (Billions of yen) ---------------------------------------------------------------------------------- FY01 *2 FY02 *3 Actual Actual ---------------------------------------------------------------------------------- Credit Cost (A) 1,038.6 836.4 --------------------------------------------------------------------------------- Transfer to Specific Reserve 663.2 375.4 --------------------------------------------------------------------------------- Write-off of loans and other related losses (C) 342.9 449.7 -------------------------------------------------------------------------------- Write-off of loans 271.9 259.7 -------------------------------------------------------------------------------- Losses on Sales of Loans to CCPC 8.4 16.4 -------------------------------------------------------------------------------- Losses on Sales of Loans to RCC *1 2.7 22.0 -------------------------------------------------------------------------------- Losses on Bulk Sales 47.9 126.9 -------------------------------------------------------------------------------- Losses on Debt Forgiveness 12.0 24.7 --------------------------------------------------------------------------------- Transfer to Reserve for Possible Losses from Loans Sold to CCPC 37.0 15.2 --------------------------------------------------------------------------------- Transfer to Reserve for Supporting Specific Borrowers --- --- --------------------------------------------------------------------------------- Transfer to Loan Loss Reserve for Specific Overseas Countries (4.5) (3.9) ---------------------------------------------------------------------------------- Transfer to General Reserve for Possible Loan Losses (B) 504.5 238.1 ---------------------------------------------------------------------------------- Total (A)+(B) 1,543.1 1,074.5 ---------------------------------------------------------------------------------- ---------------------------------------------------------------------------------- Direct Write-off of loans already reserved (D) 573.7 1,131.7 ---------------------------------------------------------------------------------- ---------------------------------------------------------------------------------- Gross Direct Write-offs (C) + (D) 916.6 1,581.4 ---------------------------------------------------------------------------------- *1 Losses due to the sales of loans to the specific bank defined in Article 53 of Financial Reconstruction Law. *2 The numbers of FY01 are those of former Sumitomo Mitsui Banking Corporation. *3 The numbers of FY02 include those of Sumitomo Mitsui Banking Corporation before the merger (From and including April 1, 2002 to and including March 16, 2003). ---------------------------------------------------------------------------------- FY01 *2 FY02 *3 Actual Actual ---------------------------------------------------------------------------------- Credit Cost (A) 1,176.0 950.3 --------------------------------------------------------------------------------- Transfer to Specific Reserve 681.5 408.0 --------------------------------------------------------------------------------- Write-off of loans and other related losses (C) 460.4 529.5 -------------------------------------------------------------------------------- Write-off of loans 380.0 339.9 -------------------------------------------------------------------------------- Losses on Sales of Loans to CCPC 9.8 17.1 -------------------------------------------------------------------------------- Losses on Sales of Loans to RCC *1 3.0 22.0 -------------------------------------------------------------------------------- Losses on Bulk Sales 55.6 125.8 -------------------------------------------------------------------------------- Losses on Debt Forgiveness 12.0 24.7 --------------------------------------------------------------------------------- Transfer to Reserve for Possible Losses from Loans Sold to CCPC 38.7 16.7 --------------------------------------------------------------------------------- Transfer to Reserve for Supporting Specific Borrowers --- --- --------------------------------------------------------------------------------- Transfer to Loan Loss Reserve for Specific Overseas Countries (4.6) (3.9) ---------------------------------------------------------------------------------- Transfer to General Reserve for Possible Loan Losses (B) 527.4 250.6 ---------------------------------------------------------------------------------- Total (A)+(B) 1,703.4 1,200.9 ---------------------------------------------------------------------------------- ---------------------------------------------------------------------------------- Direct Write-off of loans already reserved (D) 681.8 1,280.9 ---------------------------------------------------------------------------------- ---------------------------------------------------------------------------------- Gross Direct Write-offs (C) + (D) 1,142.2 1,810.4 ---------------------------------------------------------------------------------- *1 Losses due to the sales of loans to the specific bank defined in Article 53 of Financial Reconstruction Law. *2 The numbers of FY01 are those of former Sumitomo Mitsui Banking Corporation. *3 The numbers of FY02 are those of Sumitomo Mitsui Financial Group (consolidated). (Table 17) Bankruptcies in FY2002 *1 [Sumitomo Mitsui Banking Corporation (Non-conconsolidated)] (Billions of yen) ----------------------------------------------------------------------------------------- ------------- ------ --------- Internal Grading One Year Internal Grading Six Month Before the Before the Bankruptcy Bankruptcy ------------------------- ------------------------------ Internal Number of Outstanding Number of Outstanding Grading Bankruptcies Exposure Bankruptcies Exposure ---------- ------------- ----------- ------------- ---------------- 1 0 0.0 0 0.0 ---------- ------------- ----------- ------------- ---------------- 2 0 0.0 0 0.0 ---------- ------------- ----------- ------------- ---------------- 3 0 0.0 0 0.0 ---------- ------------- ----------- ------------- ---------------- 4A 0 0.0 0 0.0 ---------- ------------- ----------- ------------- ---------------- 4B 2 3.1 1 0.2 ---------- ------------- ----------- ------------- ---------------- 4C 7 2.5 6 2.3 ---------- ------------- ----------- ------------- ---------------- 5A 17 6.0 14 5.3 ---------- ------------- ----------- ------------- ---------------- 5B 23 5.1 18 3.4 ---------- ------------- ----------- ------------- ---------------- 5C 34 5.7 27 4.0 ---------- ------------- ----------- ------------- ---------------- 6 39 4.0 36 3.5 ---------- ------------- ----------- ------------- ---------------- 7 181 106.4 150 83.3 ---------- ------------- ----------- ------------- ---------------- 8 87 95.7 104 96.7 ---------- ------------- ----------- ------------- ---------------- 9 30 53.9 66 84.6 ---------- ------------- ----------- ------------- ---------------- No Grading *2 49 5.8 47 4.9 ========== ============= =========== ============= ================ Total 469 288.2 469 288.2 ---------- ------------- ----------- ------------- ---------------- *1 Bankruptcies with credit amount less than 50 million yen are excluded. *2 "No Grading" includes individuals and companies without financial data. (Reference) Problem Assets Based on the Financial Reconstruction Law (Billions of yen) ------------------- ------------------- -------------------- Mar. 31, 03 ------------------- ------------------- -------------------- Bankrupt and Quasi-Bankrupt Assets 524.9 --------------------------------------- -------------------- Doubtful Assets 2,129.5 ------------------- ------------------- -------------------- Substandard Loans 2,606.9 ------------------- ------------------- -------------------- Normal Assets 57,313.4 ------------------- ------------------- -------------------- Total 62,574.7 ------------------- ------------------- -------------------- (Table 18) Unrealized Gains(Losses). (as of Mar. 31, 03) [ Sumitomo Mitsui Banking Corporation ( Non-consolidated ) ] Securities (Billions of yen) Outstanding Net Unrealized Gains(Losses) ----------------------------------- Balance Gains Losses ======================================================================================================================== Securities *1,*2 286.2 3.8 3.9 0.1 ----------------------------------------------------------------------------------------------------- Held-to- Bond 261.0 2.8 2.8 --- ----------------------------------------------------------------------------------------------------- maturity Stock --- --- --- --- ----------------------------------------------------------------------------------------------------- purpose Other 25.2 1.0 1.1 0.1 -------------------------------------------------------------------------------------------------------- Money Held in Trust *1 --- --- --- --- ======================================================================================================================== Securities *1,*2 1,200.7 (20.4) 0.6 21.0 ----------------------------------------------------------------------------------------------------- Subsidiaries, Bond --- --- --- --- ----------------------------------------------------------------------------------------------------- etc. Stock 345.4 (20.4) 0.6 21.0 ----------------------------------------------------------------------------------------------------- Other 855.3 --- --- --- -------------------------------------------------------------------------------------------------------- Money Held in Trust *1 --- --- --- --- ======================================================================================================================== Securities *1,*2 22,227.7 (17.8) 257.7 275.5 ----------------------------------------------------------------------------------------------------- Other Bond 14,463.4 108.7 112.4 3.7 ----------------------------------------------------------------------------------------------------- Securities Stock 3,162.8 (152.3) 105.3 257.6 ----------------------------------------------------------------------------------------------------- Other 4,601.5 25.8 40.0 14.2 -------------------------------------------------------------------------------------------------------- Money Held in Trust *1 23.0 0.0 0.5 0.5 ------------------------------------------------------------------------------------------------------------------------ Others (Billions of yen) ------------------------------------------------------------------------------------------------------------------------ Net Unrealized Gains(Losses) ----------------------------------- Book Value Market Value Gains Losses ======================================================================================================================== Premises used in Business *3 341.1 344.9 3.8 12.6 8.8 ------------------------------------------------------------------------------------------------------------------------ Other Premises --- --- --- --- --- ======================================================================================================================== Other Assets --- --- --- --- --- ------------------------------------------------------------------------------------------------------------------------ *1 Unrealized gains(losses) are calculated as follows; Securities and Money Held in Trust with market value: Market prices as of balance sheet date. But for the stocks in the "Other Securities", unrealized gains(losses) are based on the average market price during the final month of the interim period. *2 Securities include following items, which are not categorized as "Securities" in the balance sheet. Negotiable certificates of deposit included in item "Deposits with Banks" and commercial papers as well as claims on loan trust included in item "Commercial Papers and Other Purchased". *3 Based on revaluation of land at fair value as of March 31, 1998 and March 31, 2002 under the Revaluation Act of Land Properties and the law concerning amendment of the Law. Book Value: Book value after the revaluation. Market Value: Market value as of March 31, 2003. (Table 18) Unrealized Gains(Losses). (as of March 31,2003) [ Sumitomo Mitsui Financial Group ( consolidated ) ] Securities (Billions of yen) ---------------------------------------------------------------------------------------------------------------------- Outstanding Net Unrealized Gains(Losses) --------------------------------------------------- Balance Gains Losses ======================================================================================================================== Securities *1,*2 387.5 5.9 6.0 0.1 ---------------------------------------------------------------------------------------------------- Held-to- Bond 334.5 4.9 4.9 --- ---------------------------------------------------------------------------------------------------- maturity Stock --- --- --- --- ---------------------------------------------------------------------------------------------------- purpose Other 53.0 1.0 1.1 0.1 ------------------------------------------------------------------------------------------------------- Money Held in Trust *1 --- --- --- --- ======================================================================================================================== Securities *1,*2 196.3 --- --- --- ---------------------------------------------------------------------------------------------------- Subsidiaries, Bond --- --- --- --- ---------------------------------------------------------------------------------------------------- etc. Stock 188.5 --- --- --- ---------------------------------------------------------------------------------------------------- Other 7.8 --- --- --- ------------------------------------------------------------------------------------------------------- Money Held in Trust *1 --- --- --- --- ======================================================================================================================== Securities *1,*2 23,599.6 (30.6) 272.9 303.6 ---------------------------------------------------------------------------------------------------- Other Bond 15,312.1 111.2 117.1 5.9 ---------------------------------------------------------------------------------------------------- Securities Stock 3,284.4 (165.4) 113.0 278.4 ---------------------------------------------------------------------------------------------------- Other 5,003.1 23.6 42.9 19.3 ------------------------------------------------------------------------------------------------------- Money Held in Trust *1 23.0 0.0 0.5 0.5 ------------------------------------------------------------------------------------------------------------------------ Others (Billions of yen) ----------------------------------------------------------------------------------------------------------------------- Net Unrealized Gains(Losses) -------------------------------------------- Book Value Market Value Gains Losses ======================================================================================================================= Premises used in Business *3 348.1 350.5 2.4 12.6 10.2 ----------------------------------------------------------------------------------------------------------------------- Other Premises --- --- --- --- --- ======================================================================================================================= Other Assets --- --- --- --- --- ----------------------------------------------------------------------------------------------------------------------- *1 Unrealized gains(losses) are calculated as follows; Securities and Money Held in Trust with market value: Market prices as of balance sheet date. But for the stocks in the "Other Securities", unrealized gains(losses) are based on the average market price during the final month of the interim period. *2 Securities include following items, which are not categorized as "Securities" in the balance sheet. Negotiable certificates of deposit included in item "Deposits with Banks" and commercial papers as well as claims on loan trust included in item "Commercial Papers and Other Purchased". *3 Based on revaluation of land at fair value as of March 31, 1998 and March 31, 1999 and March 31, 2002 under the Revaluation Act of Land Properties and the law concerning amendment of the Law. Book Value: Book value after the revaluation. Market Value: Market value as of March 31, 2003. (Table 19) Derivatives and Foreign Forward Contracts [ Sumitomo Mitsui Financial Group ( consolidated ) ] (Billions of Yen) --------------------------------------------------------------------------------------------------------------------- Contract Amount or Credit Risk Equivalent Amount Nominal Principal Amount --------------------------------------------------------------------------------- Mar.31, 02 *2 Mar. 31, 03 Mar.31, 02 *2 Mar.31, 03 --------------------------------------------------------------------------------------------------------------------- Financial Futures Contracts 118,364.9 203,563.1 --- --- --------------------------------------------------------------------------------------------------------------------- Interest Rate Swap 202,263.5 225,782.9 3,155.1 4,004.7 --------------------------------------------------------------------------------------------------------------------- Currency Swap 12,024.7 12,914.9 900.4 871.9 --------------------------------------------------------------------------------------------------------------------- Foreign Exchange Forward Contracts 42,393.4 38,376.9 1,292.2 950.6 --------------------------------------------------------------------------------------------------------------------- Interest Rate Options (Buy) 4,660.3 4,300.9 55.1 63.6 --------------------------------------------------------------------------------------------------------------------- Currency Options (Buy) 3,745.9 3,214.5 118.1 105.8 --------------------------------------------------------------------------------------------------------------------- Other Derivative Instruments 21,230.1 24,482.6 31.8 49.5 --------------------------------------------------------------------------------------------------------------------- Effect of Master Netting Agreements --- --- (2,806.5) (2,882.5) ===================================================================================================================== Total 404,682.8 512,635.8 2,746.3 3,163.6 --------------------------------------------------------------------------------------------------------------------- *1 Figures given above were computed according to capital adequacy guidelines set by the BIS. Followings were also added. -Listed transactions -Options (sell) -Transactions for which the original contract has a maturity of 14 days or less *2 The numbers of FY01 are those of former Sumitomo Mitsui Banking Corporation (consolidated) (Table 20) Credit Portfolio (as of Mar. 31, 03) [ Sumitomo Mitsui Banking Corporation (Non-consolidated) ] (Billions of Yen) --------------------------------------------------------------------------------------------------------------------- Counterparty Counterparty with Others *2 Total with rating rating equivalent to equivalent to BB/Ba or lower BBB/Baa or higher --------------------------------------------------------------------------------------------------------------------- Credit Risk Equivalent 379.5 2.6 8.5 390.6 --------------------------------------------------------------------------------------------------------------------- Credit Cost 0.3 0.0 0.1 0.4 --------------------------------------------------------------------------------------------------------------------- Amount of Credit Risk 1.7 0.1 0.4 2.2 --------------------------------------------------------------------------------------------------------------------- *1 Tentative calculation for inerest rate and foreign currency related derivative transactions with financial institutions located in Tokyo, New York, Hong Kong and Singapore by the Treasury Unit. *2 Corporations without credit ratings by rating agencies. Short Name: Sumitomo Mitsui Bnkg Category Code: STR Sequence Number: 00008298 Time of Receipt (offset from UTC): 20030812T110613+0100 --30--KO/uk* CONTACT: Sumitomo Mitsui Bnkg KEYWORD: UNITED KINGDOM JAPAN INTERNATIONAL EUROPE ASIA PACIFIC INDUSTRY KEYWORD: BANKING SOURCE: Sumitomo Mitsui Bnkg Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: http://www.businesswire.com
1 Year Swedish Export Credit Capped Leveraged Index Return Notes Linked TO The S&P 500 Index Chart |
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