2 days ago
Sumitomo Mitsui Trust Said to Shut Hong Kong Branch by June 2026
Sumitomo Mitsui Trust Bank Ltd. plans to close the lender's Hong Kong branch by June 2026 and move most of its client operations to the Singapore office, according to people familiar with the matter.
The Hong Kong branch — which currently handles general corporate lending, as well as shipping finance and aviation finance — faced growing competition from overseas banks in recent years, making the business environment increasingly challenging, said the people, who did not want to be named.
