By GWEN MURANAKA, Rafu Senior Editor
What’s in a name? For many financial institutions a name reflects the core offerings, client base, and geographic footprint. On Dec. 1, Manufacturers Bank rebranded as SMBC MANUBANK to better represent the transformation of its commercial banking business into new markets and industries, the launch of their digital division, and a commitment to its client-first core value.
“We are proud of our roots serving businesses in Southern California,” explained Chairman and Chief Executive Officer Kazuhisa Miyagawa. “Becoming SMBC MANUBANK marks a new chapter as we further strengthen our relationship with SMBC Group. Incorporating ‘SMBC’ into the name showcases our role as a critical contributor to SMBC Group with shared core values.”
The bank’s relationship with SMBC, one of the largest financial institutions in the world, goes back several decades, and in 2019 it became a wholly owned subsidiary of SMBC Americas Holdings, Inc. (SMBCAH). There are no changes in bank ownership, management, or operations associated with the new name.
Miyagawa emphasized that the SMBC brand recognition enhances business development of the commercial bank in general, and especially the Japanese business community. Clients benefit from having access to local decision-makers who understand regional market conditions and dedicated relationship managers fluent in Japanese, who have a deep understanding of the culture.
Examples of the bank’s transformation journey include realigning its commercial banking unit to increase efficiencies for a more seamless client experience. In mid-2023 SMBC MANUBANK launched its digital division, Jenius Bank, which aims to help people live richer lives through actionable insights and innovative tools powered by first-class technology. Jenius Bank now offers personal loans and savings with plans to introduce a mobile app in the coming months.
As SMBC MANUBANK continues to evolve, Miyagawa highlighted the bank’s tradition of giving back to the community. “Our colleagues demonstrate our commitment to building strong community relationships by donating their time, energy, and talent to support local organizations.”
He added, “Becoming SMBC MANUBANK reinforces our commitment to transform our business, and be a ‘Gateway to Growth’ for our colleagues, communities, and most importantly, clients.”
About SMBC MANUBANK
SMBC MANUBANK 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. It serves the specialized needs of middle-market businesses, manufacturers, wholesalers, distributors, importers, exporters, and service companies.
The commercial bank has offices in Los Angeles, Beverly Hills, Brea, Encino, Glendale, Newport Beach, San Jose, Torrance, and Warner Center. For more information, visit www.smbcmanubank.com. Member FDIC.
To learn more about Jenius Bank, visit www.jeniusbank.com.