Sumitomo Mitsui Banking Corporation
Sakura merged with The Sumitomo Bank on April 1, 2001, forming the Sumitomo Mitsui Banking Corporation. The merger was approved in June 2000 and combined Sakura's strong retail operation and eastern Japan presence with Sumitomo's strong wholesale operation and western Japan presence. The merger created the world's third-largest banking group at the time, after Deutsche Bank and the pending merger that would form Mizuho Bank.