Sumitomo Mitsui Financial Group 2021 Financial Overview
Roadmap to 2022 ~ Cost ~
Key initiatives of cost reduction
1 Reform of domestic businesses
Reform of retail business
Optimize resource allocation of
wealth management business
Digitalize mortgage loan procedures
Reallocate workforce of
domestic wholesale business
Cost
JPY (50) bn
Workload
(5.0) K people
Reduce headcounts of
headquarters
(30)%
2 Retail branch reorganization
JPY (25) bn
3 Integration of group operations
JPY (25) bn
Full-service
smart branches
(2.6) K people
Smart branches
(21)
438 branches
Full-service
smart branches
Relocate SMCC and SMBCCF
to integrate operations
Smart branches
(300)
"SMBC The
PERSONAL"
• Others
250
PMI of asset management
(1.9) K people
business
50
Consolidate data centers /
base systems of group
companies
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