The Sakura Bank, Limited (Sakura Bank さくら銀行 Sakura Ginkō) was a Japanese bank.
It merged with Sumitomo Bank on April 1, 2001, forming the Sumitomo Mitsui Banking Corporation. The Sumitomo Bank, Limited (Sumitomo Bank ä½å‹éŠ€è¡Œ Sumitomo GinkÅ) was a Japanese bank. ... Sumitomo Mitsui Banking Corporation (SMBC, Mitsui Sumitomo Ginko) is a Japanese bank based in Tokyo, Japan. ...
After acquiring Asahi Bank in 2002, the group was renamed Resona Holdings, Inc., "resona" being the Japanese for "ideal".
The bank announced plans to merge with Sumitomo Bank in 2001 to form Sumitomo Mitsui Banking Corp, now Sumitomo Mitsui Financial Group, the third-largest bank in the world.
It was created at a time when many Japanese banks were undergoing radical changes as a result of a 10-year slump in the economy and a seeming inability to resolve huge bad debts.
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