Manufacturers Bank Announces Plans to Rebrand as SMBC MANUBANK

Rhea-AI Summary

Manufacturers Bank, a subsidiary of SMBC Americas Holdings, will be changing its name to SMBC MANUBANK as it expands into new markets and industries. The bank launched Jenius Bank, a digital division catering to U.S. consumers nationwide. The rebranding demonstrates commitment to building strong client and community relationships. Ownership, management, and operations of the bank will remain unchanged.

LOS ANGELES--(BUSINESS WIRE)-- Manufacturers Bank, a subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group, announced that it will be changing its name to SMBC MANUBANK as it expands into new markets and industries, and highlighting its decades-long affiliation with Sumitomo Mitsui Banking Corporation, a global leader in finance and innovation.

Earlier this year, the bank launched Jenius Bank, a digital division catering to U.S. consumers nationwide that offers personal loans with plans to provide savings accounts and a mobile app in the coming months.

“Manufacturers Bank has been a long-term contributor to the community, and the launch of its new consumer digital division, Jenius Bank, is one more way that we seek to add value for our customers," said Hiro Otsuka, CEO of SMBC Group in the Americas. “The rebranding of Manufacturers Bank demonstrates our commitment to building strong client and community relationships across SMBC Group.”

“We’re proud to be part of SMBC’s rich history and legacy of trust, strength, and stability spanning more than 400 years,” said Manufacturers Bank Chairman and Chief Executive Officer, Kazuhisa Miyagawa. “Becoming SMBC MANUBANK will deepen that relationship and elevate our brand recognition among current and prospective clients including those in the Japanese business community.”

The SMBC MANUBANK branding will reflect the visual identity of SMBC Group companies around the world, at the same time maintaining unique qualities such as concierge service and access to local decision makers that differentiate the commercial bank from its competitors. While the name will change, ownership, management, and operations of the bank will remain unchanged.

“Our focus heading into the bank’s new era as SMBC MANUBANK is to be the Gateway to Growth for our clients, communities, and colleagues,” said Sander Pruijs, Manufacturers Bank President. “We are and will always be client-first. Other exciting aspects of this transformation will see us streamlining our Commercial Banking processes, investing in digital technologies, and growing our product offerings to continuously enhance the client experience.”

ABOUT MANUFACTURERS BANK

Founded in 1962, Manufacturers Bank is a California state-chartered commercial bank based in Los Angeles and is a wholly owned subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group. Manufacturers Bank serves the specialized needs of middle-market businesses, manufacturers, wholesalers, distributors, importers, exporters, and service companies. For more information, please visit www.manufacturersbank.com.

ABOUT SMBC GROUP

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 150 offices and 86,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and ADRs on the New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the U.S., Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd. For more information, please visit www.smbcgroup.com.

ABOUT JENIUS BANK

Now open to customers, Jenius Bank has a mission to help people build a richer life through actionable insights and innovative tools powered by best-in-class technology. The bank currently offers personal loans, with a savings product and mobile app launching in the coming months. Jenius Bank is the digital division of Manufacturers Bank, a California state chartered commercial bank that is a wholly owned subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group. The Jenius Bank team works remotely across 39 states but also maintains offices for team collaboration in Phoenix, Arizona; Los Angeles, California; New York, New York; and Charlotte, North Carolina. To learn more information about Jenius Bank and to join its waitlist for checking and savings products, visit www.jeniusbank.com.

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Dean Bui

Executive Director

Marketing & Product Development Manager

213-489-6286

Source: Manufacturers Bank