Investor Presentaiton
Cost control
Cost reduction initiatives are making good progress
and expected to exceed the initial target" by JPY 30-40 bn due to acceleration of digital shift.
Target
Status of key initiatives
Reform of
(50) bn
domestic business
(25) bn
(25) bn
Retail branch
re organization
Integration of
group operations
Acceleration of digital shift
Results *2
Reduced workload of 3.3K people
- Digitalize payment businesses
- Reallocate workforce of domestic wholesale
(48) bn
and wealth management businesses
- Improve efficiency of headquarters
Completed shift to smart branches
ahead of schedule
(18) bn
Operate in small headcount
by digitalizing operations and eliminating cash
Review overseas expenses
Integrate functions of SMCC and SMBCFS
(20) bn
Share systems and review assets
Total
JPY 30-40 bn
Reallocate resources
JPY 100 bn
+
+ Additional 20 bn
in best case
to digital and overseas businesses
(86) bn
*1 Cumulative cost reduction target for the three-year period covered by the current medium-term management plan
*2 Cumulative result of FY20 and FY21
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