credit card

Sumitomo Mitsui Trust Card and Sumitomo Mitsui Trust Club to merge

Norbert Gehrke

06 Apr 2025 — 2 min read

Sumitomo Mitsui Trust Bank will reorganize its subsidiaries engaged in the credit card business, Sumitomo Mitsui Trust Card and Sumitomo Mitsui Trust Club, with the merger of both companies scheduled for October 1, 2025.

Trust Club issues cards such as the Diners Club Card, which has many high-income members, while Trust Card issues the Sumitomo Mitsui Trust VISA Card, pictured above.

Trust Card was established in 2012 following the merger of Sumitomo Trust Bank, Chuo Mitsui Trust Bank, and Chuo Mitsui Asset Trust Bank. Trust Club was established in 2015 when Sumitomo Mitsui Trust Bank acquired all shares of Citi Cards Japan from Citi for just over 40 billion yen, and changed its name to Sumitomo Mitsui Trust Club.

Background

Sumitomo Mitsui Trust Bank has decided to reorganize the credit card business within the group in order to respond to the rapidly changing financial environment and diversifying customer needs.

The merger of Sumitomo Mitsui Trust Card and Sumitomo Mitsui Trust Club aims to efficiently utilize management resources, enhance services, and strengthen competitiveness in the market. By unifying both companies' management resources, Sumitomo Mitsui Trust Bank will also respond quickly to the rapid digitalization and expansion of cashless payments. Furthermore, this integration will maximize synergy effects across the entire group, strengthen financial service offerings, provide better services to customers, and contribute to social development.

Summary of the Merger

Integration of Sumitomo Mitsui Trust Card and Sumitomo Mitsui Trust Club: The merger will be carried out with Sumitomo Mitsui Trust Card as the surviving company. All business operations and services of Sumitomo Mitsui Trust Club will be transferred to Sumitomo Mitsui Trust Card.
Change of Trade Name and Head Office Location of the Surviving Company, Sumitomo Mitsui Trust Card: After the merger, the trade name will be changed to Sumitomo Mitsui Trust Club, which is the name of the dissolving company. Similarly, the head office location will be changed to that of Sumitomo Mitsui Trust Club.

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