December 25, 2014
Sumitomo Mitsui Banking Corporation
SMBC Trust Bank Ltd.
Citibank Japan Ltd.
Sumitomo Mitsui Banking Corporation and Citi reach agreement on acquisitionof Citibank Japan’s retail banking business
Sumitomo Mitsui Banking Corporation (President and CEO: Takeshi Kunibe; “SMBC”) andCitigroup Inc. (CEO: Michael L. Corbat; headquartered in New York, USA; “Citi”) today reached
an agreement (“the agreement”) pursuant to which SMBC Trust Bank Ltd. (President and CEO:
Masahiro Nakagawa; “SMBC Trust”), a wholly owned subsidiary of SMBC, will acquire the retailbanking business of Citibank Japan Ltd. (Representative Director, President & CEO: Peter B.
Eliot; “Citibank Japan”), a wholly owned subsidiary of Citi, subject to regulatory approvals.
Citi and SMBC Trust today agreed to cooperate to ensure a smooth transition of the business toSMBC Trust, and signed a comprehensive agreement to ensure the continued offering ofproducts and services.
1. Overview of the Transaction
Under the agreement announced today, Citibank Japan’s entire retail banking business will betransferred to SMBC Trust, together with about 740,000 retail customers, 32 branches and about
1,600 employees.
Overview of the Retail Bank Business (as of September 30, 2014)
Total Deposits:
2,440 billion yen
Number of Employees:
Approximately 1,600 (including some employees seconded
to affiliated entities etc.)
Number of Branches:
32 (Including Internet Branch and Kansai Mini Branch, as ofNovember 30, 2014)
Number of Customers:
Approximately 740,000

2. The Principle of the Agreement
SMBC Trust, which will acquire the retail banking business from Citibank Japan, was itself
acquired by SMBC from Societe Generale SA in October 2013. SMBC Trust offers privatebanking services, offering tailor-made asset management products.
Citibank Japan’s retail banking business offers unique products and services that are generally
not available to retail customers from other Japanese banks, including cash cards that can beused at overseas ATMs, a variety of foreign currency asset management products, timely
information on overseas markets and consultation services with designated bankers.

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SMBC Trust is committed to taking over the unique characteristics of Citibank Japan, and will
strive to continue to offer the same products and services available to customers. SMBC Trustand Citibank Japan will work together to ensure that the transfer of the retail banking business toSMBC Trust requires no action or special procedures by customers of Citibank Japan. Productsand services currently offered by SMBC Trust remain unchanged.
SMBC will work closely with SMBC Trust in the transition process for the business so that SMBC
Trust is able to assume the operations smoothly and to offer new value-added services tocustomers.
3. Products and Services(1) Continuity of Products and Services
Products and services currently available to retail customers of Citibank Japan’s retailbanking business will continue to remain available even after the retail banking business isacquired by SMBC Trust.
For example, customers will be able to continue to use their cash cards as today, in Japanand overseas through approximately 1.9 million ATMs in more than 200 countries.
Foreign currency asset management products, which today include 136 foreign mutual funds
and 11 foreign currency deposits, will continue to be available.
Preferential services offered depending on the transaction volume and account balances,including account maintenance fees, ATM fees, money transfer and remittance fees, willcontinue to be available as they are now.
Citigold and Citigold Premium customers will continue to be able to receive asset
management consultation by designated bankers as well as preferential fees.
(2) Continuity of Global Services through Cooperation with Citi
In relation to the agreement, Citi and SMBC Trust signed a comprehensive agreement on thecontinued offering of global products and services. This agreement allows customers toenjoy services utilizing Citi’s overseas network. For example, Citigold customers will be able
to use overseas Citigold lounges. Also, after the transfer, usage fees at Citi ATMs overseas
will become free of charge.
Citi and SMBC Trust will continue to cooperate to provide customers with products andservices meeting their global needs, going forward.
(3) Enhancing products, services and customer experiences
SMBC Trust, in cooperation with SMBC group companies, will offer more value added
products and services for retail customers currently using Citibank Japan.

2For example, SMBC plans to start offering preferential fees to transfer foreign currency andyen deposits from SMBC accounts to Citibank Japan accounts. SMBC also plans tointroduce preferential ATM fees for SMBC ATMs to current retail customers of Citibank
Japan.
SMBC Trust strives to enhance its asset management product lineup for customers tochoose from wider options, leveraging SMBC Trust’s expertise in the private banking
business while working closely with SMBC Nikko Securities Inc.
SMBC Trust strives to meet wider needs for asset management consultation through theexisting asset management consultation services, and by adding services related to wills
and inheritance.
4. Timeline
December 25, 2014
October, 2015 (planned)

Contract signed
The transaction is expected to be complete, subject to necessary
regulatory approvals

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