BW20030528000056  20030528T132511Z UTC



( BW)(SUMITOMO-MITSUI-BNKG)(SBK) Final Results - Part 1

    Business Editors
    UK REGULATORY NEWS

    TOKYO--(BUSINESS WIRE)--May 28, 2003--

Financial Highlights for FY2002
1. Financial Results
                                                                                (Millions of yen)
------------------------------------------------------------------------------------------------------------------------

                                                                                      -----------------
                                                                         FY2002            Change           FY2001
------------------------------------------------------------------------------------------------------------------------
Gross banking profit                                            1           1,760,684         (104,195)       1,864,879
                              2                      
------------------------------------------------------------------------------------------------------------------------
    Gross domestic profit                                       3           1,252,898          (14,782)       1,267,680
                              4                       
    --------------------------------------------------------------------------------------------------------------------
          Net interest income                                   5           1,025,797          (64,059)       1,089,856
          --------------------------------------------------------------------------------------------------------------
          Trust fees                                            6                   7                7                -
          --------------------------------------------------------------------------------------------------------------
          Net fees and commissions                              7             152,849           30,341          122,508
          --------------------------------------------------------------------------------------------------------------
          Net trading income                                    8               2,496            1,492            1,004
          --------------------------------------------------------------------------------------------------------------
          Net other operating income                            9              71,747           17,439           54,308
                                       10                               
    --------------------------------------------------------------------------------------------------------------------
    Gross international profit                                 11             507,785          (89,413)         597,198
                             12                          
    --------------------------------------------------------------------------------------------------------------------
          Net interest income                                  13             197,539         (199,642)         397,181
          --------------------------------------------------------------------------------------------------------------
          Net fees and commissions                             14              41,816           (1,187)          43,003
          --------------------------------------------------------------------------------------------------------------
          Net trading income                                   15             193,504           73,220          120,284
          --------------------------------------------------------------------------------------------------------------
          Net other operating income                           16              74,925           38,198           36,727
                                       17                               
------------------------------------------------------------------------------------------------------------------------
Expenses (excluding non-recurring losses)                      18            (647,040)          31,353         (678,393)
------------------------------------------------------------------------------------------------------------------------
    Personnel expenses                                         19            (253,907)          22,546         (276,453)
    --------------------------------------------------------------------------------------------------------------------
    Non-personnel expenses                                     20            (357,682)          12,141         (369,823)
    --------------------------------------------------------------------------------------------------------------------
    Taxes                                                      21             (35,450)          (3,335)         (32,115)
========================================================================================================================
Banking profit (excluding transfer to
                  general reserve for possible loan losses)    22           1,113,643          (72,841)       1,186,484
                             23                        
========================================================================================================================
Transfer to general reserve for possible loan losses           24            (238,132)         266,531         (504,663)
------------------------------------------------------------------------------------------------------------------------
Banking profit                                                 25             875,511          193,690          681,821
------------------------------------------------------------------------------------------------------------------------
    Gains(losses) on bonds                                     26             135,659           68,526           67,133
------------------------------------------------------------------------------------------------------------------------
Non-recurring gains(losses)                                    27          (1,472,700)        (269,251)      (1,203,449)
------------------------------------------------------------------------------------------------------------------------
                                            28                    
    --------------------------------------------------------------------------------------------------------------------
          Write-off of loans                                   29            (284,418)             945         (285,363)
          --------------------------------------------------------------------------------------------------------------
          Transfer to specific reserve                         30            (375,359)         288,601         (663,960)
          --------------------------------------------------------------------------------------------------------------
          Transfer to reserve for losses on loans sold         31             (15,245)          21,789          (37,034)
          --------------------------------------------------------------------------------------------------------------
          Losses on loans sold to CCPC                         32             (16,370)          (8,007)          (8,363)
          --------------------------------------------------------------------------------------------------------------
          Losses on sale of delinquent loans                   33            (148,870)         (98,281)         (50,589)
          --------------------------------------------------------------------------------------------------------------
          Transfer to loan loss reserve for
                                  specific overseas
                                   countries                   34               3,879             (667)           4,546
          --------------------------------------------------------------------------------------------------------------
                        35
    --------------------------------------------------------------------------------------------------------------------
    Gains(losses) on stocks                                    36            (635,708)        (504,951)        (130,757)
    --------------------------------------------------------------------------------------------------------------------
          Gains on sale of stocks                              37              51,205           (3,051)          54,256
          --------------------------------------------------------------------------------------------------------------
          Losses on sale of stocks                             38            (159,448)        (105,142)         (54,306)
          --------------------------------------------------------------------------------------------------------------
          Losses on devaluation of stocks                      39            (527,465)        (396,757)        (130,708)
    --------------------------------------------------------------------------------------------------------------------
    Enterprise taxes by Local Governments                      40              (7,811)          22,189          (30,000)
    --------------------------------------------------------------------------------------------------------------------
    Others                                                     41               7,204            9,130           (1,926)
========================================================================================================================
Ordinary profit(loss)                                          42            (597,188)         (75,559)        (521,629)
========================================================================================================================
Extraordinary gains(losses)                                    43             (73,799)         (58,814)         (14,985)
------------------------------------------------------------------------------------------------------------------------
    Gains(losses) on disposition of premises
                                                 and
                                                  equipment    44             (26,169)         (11,835)         (14,334)
    --------------------------------------------------------------------------------------------------------------------
          Gains on disposition of premises  and equipment      45               5,498            1,129            4,369
          --------------------------------------------------------------------------------------------------------------
          Losses on disposition of premises  and equipment     46             (31,668)         (12,964)         (18,704)
    --------------------------------------------------------------------------------------------------------------------
    Amortization of net transition obligation from
    initial application of the new accounting
    standard for employee retirement benefits                  47             (20,167)               -          (20,167)
------------------------------------------------------------------------------------------------------------------------
Income(loss) before income taxes                               48            (670,988)        (134,373)        (536,615)
------------------------------------------------------------------------------------------------------------------------
Income taxes, current                                          49             (40,299)          (7,540)         (32,759)
------------------------------------------------------------------------------------------------------------------------
Income taxes, deferred                                         50             232,983          (13,539)         246,522
========================================================================================================================
Net income(loss)                                               51            (478,304)        (155,452)        (322,852)
========================================================================================================================
(Notes) 1. Amount less than JPY 1 million are rounded down. Figures in parenthesis indicate the amount of loss or
 decrease.
        2. Total credit cost includes that of the former Wakashio Bank amounts to JPY 770 million, which was booked
  in extraordinary losses.


                                                                                         (Millions of yen)
------------------------------------------------------------------------------------------------------------------------

                                                                                     -----------------
                                                                       FY2002             Change            FY2001
------------------------------------------------------------------------------------------------------------------------
Consolidated gross profit                                    1             2,184,006          106,325         2,077,681
------------------------------------------------------------------------------------------------------------------------
         Net interest income                                 2             1,399,504          (50,279)        1,449,783
         ---------------------------------------------------------------------------------------------------------------
         Trust fees                                          3                     7                7                 -
         ---------------------------------------------------------------------------------------------------------------
         Net fees and commissions                            4               352,900           33,368           319,532
         ---------------------------------------------------------------------------------------------------------------
         Net trading profit                                  5               205,770           76,338           129,432
         ---------------------------------------------------------------------------------------------------------------
         Net other operating income                          6               225,823           46,891           178,932
------------------------------------------------------------------------------------------------------------------------
General and administrative expenses                          7              (889,237)          46,316          (935,553)
------------------------------------------------------------------------------------------------------------------------
Total credit cost                                            8            (1,200,904)         502,459        (1,703,363)
------------------------------------------------------------------------------------------------------------------------
         Write-off of loans                                  9              (364,605)          27,318          (391,923)
         ---------------------------------------------------------------------------------------------------------------
         Transfer to specific reserve                       10              (407,963)         273,494          (681,457)
         ---------------------------------------------------------------------------------------------------------------
         Transfer to general reserve for possible loan
          losses                                            11              (250,636)         276,809          (527,445)
         ---------------------------------------------------------------------------------------------------------------
         Others                                             12              (177,698)         (75,161)         (102,537)
------------------------------------------------------------------------------------------------------------------------
Gains(losses) on stocks                                     13              (621,526)        (603,718)          (17,808)
------------------------------------------------------------------------------------------------------------------------
Equity in earnings of affiliates                            14                 5,718            2,754             2,964
------------------------------------------------------------------------------------------------------------------------
Other income(expenses)                                      15                 6,193           10,740            (4,547)
========================================================================================================================
Ordinary profit(loss)                                       16              (515,749)          64,879          (580,628)
========================================================================================================================
Extraordinary gains(losses)                                 17               (75,164)         (51,454)          (23,710)
------------------------------------------------------------------------------------------------------------------------
Income(loss) before income taxes and minority interests     18              (590,914)          13,424          (604,338)
------------------------------------------------------------------------------------------------------------------------
Income taxes, current                                       19               (66,068)          35,792          (101,860)
------------------------------------------------------------------------------------------------------------------------
Income taxes, deferred                                      20               225,190          (64,115)          289,305
------------------------------------------------------------------------------------------------------------------------
Minority interests in net income(loss)                      21               (33,567)          13,426           (46,993)
========================================================================================================================
Net income(loss)                                            22              (465,359)          (1,472)         (463,887)
===============================================================----------------------===================================
(Note) Consolidated gross profit = (Interest income - interest expenses)+ Trust fees + (Fees and commissions (income)
 - Fees and commissions (expenses) ) + (Trading profits - Trading losses) + (Other income - Other losses)

(Reference)                                                                                            (Billions of yen)
------------------------------------------------------------------------------------------------------------------------
Consolidated banking profit                                 23               1,131.0            139.1             991.9
------------------------------------------------------------------------------------------------------------------------
(Note)Consolidated banking profit = (SMBC Non-consolidated banking profit (excl. transfer to general reserve)) + (Other
subsidiaries' ordinary profit (excl. temporary factors) + (Affiliates' ordinary profit) X (Ownership ratio) - (Internal
transaction (dividends, etc.))

         (Number of subsidiaries and affiliates)
         ---------------------------------------------------------------------------------------------------------------

                                                                                     -----------------
                                                                   Mar. 31, 2003          Change        Mar. 31, 2002
         ---------------------------------------------------------------------------------------------------------------
         Consolidated subsidiaries                          24                   170               26               144
         ---------------------------------------------------------------------------------------------------------------
         Affiliated companies accounted for by equity
         method                                             25                    47                9                38
         ---------------------------------------------------------------------------------------------------------------


2. Banking Profit per Employee / Overhead Ratio 
                                                                                                       (Millions of yen,
                                                                                                                      %)
------------------------------------------------------------------------------------------------------------------------
                                                                                      FY2002                    FY2001
                                                                                   --------------------
                                                                                          Change
------------------------------------------------------------------------------------------------------------------------
(1)Banking profit (excluding transfer to general reserve for
 possible loan losses)                                                   1,113,643             (72,841)       1,186,484
------------------------------------------------------------------------------------------------------------------------
       Per employee (thousands of yen)                                      50,459               1,115           49,344
------------------------------------------------------------------------------------------------------------------------
(2)Banking profit                                                          875,511             193,690          681,821
------------------------------------------------------------------------------------------------------------------------
       Per employee (thousands of yen)                                      39,669              11,313           28,356
------------------------------------------------------------------------------------------------------------------------
(3)Banking profit (excluding transfer to general reserve for
possible loan losses and gains(losses) on bonds)                           977,984            (141,366)       1,119,350
------------------------------------------------------------------------------------------------------------------------
       Per employee (thousands of yen)                                      44,312              (2,240)          46,552
------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------
Overhead ratio                                                                36.7                 0.3             36.4
------------------------------------------------------------------------------------------------------------------------
(Notes)          1. Employees include executive officers (who are not
                 also board members) and overseas local staffs, and
                 exclude employees temporarily transferred to other
                 companies, temporary staff, and part-time
                  staff.
             2. For per-employee caluculation purpose, the average number of employees during the period is used.
             3. Overhead ratio = Expenses (excluding non-recurring losses) / Gross banking profit

3. Interest Spread (Domestic) 
                                                                                                                     (%)
------------------------------------------------------------------------------------------------------------------------
                                                                              FY2002                            FY2001
                                         --------------------------------------------------------------

                                                                 --------------------------------------
                                                                              Second half of FY2002

                                                                                          Change from
                                                                                          six-months
                                                                                          period ended
                                                                                          Sept.2002

------------------------------------------------------------------------------------------------------------------------
(1)Yield on interest earning assets (A)                     1.47              1.49                0.02             1.54
------------------------------------------------------------------------------------------------------------------------
       Interest earned on loans and bills
        discounted (C)                                      1.73              1.72               (0.01)            1.84
       -----------------------------------------------------------------------------------------------------------------
       Interest earned on securities                        0.65              0.60               (0.10)            0.90
------------------------------------------------------------------------------------------------------------------------
(2)Total cost of funding (including
 expenses) (B)                                              0.88              0.89                0.02             0.98
------------------------------------------------------------------------------------------------------------------------
       Cost of interest bearing
        liabilities                                         0.10              0.10                0.00             0.16
       -----------------------------------------------------------------------------------------------------------------
                           Interest paid
                            on deposits,
                            etc. (D)                        0.04              0.03               (0.01)            0.08
                           ---------------------------------------------------------------------------------------------
                           Interest paid
                            on other
                            liabilities                     0.20              0.22                0.03             0.27
       -----------------------------------------------------------------------------------------------------------------
       Expense ratio                                        0.78              0.79                0.02             0.82
------------------------------------------------------------------------------------------------------------------------
(3)Overall interest spread (A) - (B)                        0.59              0.60                0.00             0.56
------------------------------------------------------------------------------------------------------------------------
       Interest spread (C) - (D)                            1.69              1.69                0.00             1.76
------------------------------------------------------------------------------------------------------------------------

(Referrence)  Progress in improvement of loan spread with corporate clients ( managerial accounting basis )
                                                                                                    (%)
-------------------------------------------------------------------------------------------------------
                                                                         Improvement in FY2002
-------------------------------------------------------------------------------------------------------
       Loans to small and medium-sized corporations (Middle
        Market Banking Unit)                                                                    + 0.24
       ------------------------------------------------------------------------------------------------
                           Loans targeted
                            for spread
                            improvement                                                         + 0.40
       ------------------------------------------------------------------------------------------------
       Loans to large corporations (Corporate Banking Unit)                                     + 0.13
       ------------------------------------------------------------------------------------------------
       Total                                                                                    + 0.22
-------------------------------------------------------------------------------------------------------

4. Gains(Losses) on Securities 
                                                                                                       (Millions of yen)
------------------------------------------------------------------------------------------------------------------------
                                                                                 FY2002                     FY2001
                                                                 --------------------------------------
                                                                                          Change
------------------------------------------------------------------------------------------------------------------------
Gains(Losses) on bonds                                                     135,659              68,526           67,133
------------------------------------------------------------------------------------------------------------------------
       Gains on sales                                                      174,871              48,658          126,213
       -----------------------------------------------------------------------------------------------------------------
       Losses on sales                                                     (37,034)             13,510          (50,544)
       -----------------------------------------------------------------------------------------------------------------
       Gains on redemption                                                       -                  (1)               1
       -----------------------------------------------------------------------------------------------------------------
       Losses on redemption                                                     (8)              2,823           (2,831)
       -----------------------------------------------------------------------------------------------------------------
       Losses on devaluation                                                (2,169)              3,535           (5,704)
------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------
Gains(Losses) on stocks                                                   (635,708)           (504,951)        (130,757)
------------------------------------------------------------------------------------------------------------------------
       Gains on sales                                                       51,205              (3,051)          54,256
       -----------------------------------------------------------------------------------------------------------------
       Losses on sales                                                    (159,448)           (105,142)         (54,306)
       -----------------------------------------------------------------------------------------------------------------
       Losses on devaluation                                              (527,465)           (396,757)        (130,708)
------------------------------------------------------------------------------------------------------------------------


5. Unrealized Gains(Losses) on
 Securities

(1) Evaluation method of securities

         ---------------------------------------------------------------------------------------------------------------
         Trading purpose                           Fair value method (net evaluation gains(losses) recognized in income
                                                    statement)
         ---------------------------------------------------------------------------------------------------------------
         Held-to-maturity purpose                  Amortized cost method
         ---------------------------------------------------------------------------------------------------------------
         Other securities   With market value       Fair
                                                    value method (net
                                                    evaluation
                                                    gains(losses)
                                                    directly charged
                                                    to stockholders'
                                                    equity)
                             -------------------------------------------------------------------------------------------
                             Without market value  Cost method or amortized cost method
         ---------------------------------------------------------------------------------------------------------------
         Stocks of subsidiaries and affiliates     Cost method
         ---------------------------------------------------------------------------------------------------------------

         (Reference) Securities in money held in
          trust
         ---------------------------------------------------------------------------------------------------------------
         Investment purpose                        Fair value method (net evaluation gains(losses) recognized in income
                                                    statement)
         ---------------------------------------------------------------------------------------------------------------
         Other money         With market value     Fair value method (net evaluation gains(losses) directly charged to
                                                    stockholders' equity)
                             -------------------------------------------------------------------------------------------
         held in trust       Without market value  Cost method or amortized cost method
         ---------------------------------------------------------------------------------------------------------------

(2) Unrealized gains(losses)
                                                                                       (Millions
                                                                                                                 of yen)
------------------------------------------------------------------------------------------------------------------------
                                           Mar. 31, 2003                                  Mar. 31, 2002
                                      ----------------------------------------------------------------------------------
                                      Unrealized gains(losses)                          Unrealized gains(losses)
                                                                                      ---------------------------------

                                                   -----------
                                           (a)       (a) - (b)   Gains      Losses       (b)        Gains      Losses
------------------------------------------------------------------------------------------------------------------------
         Held-to-maturity purpose            3,803      2,657      3,909        (105)      1,146       1,165        (19)
         ---------------------------------------------------------------------------------------------------------------
         Stocks of subsidiaries and
          affiliates                       (20,428)   (20,327)       624     (21,052)       (101)     12,740    (12,841)
         ---------------------------------------------------------------------------------------------------------------
         Other securities                  (17,857)   464,556    257,680    (275,537)   (482,413)    244,628   (727,042)
         ---------------------------------------------------------------------------------------------------------------
                       Stocks             (152,354)   348,352    105,269    (257,624)   (500,706)    181,134   (681,841)
                       -------------------------------------------------------------------------------------------------
                       Bonds               108,712     71,138    112,417      (3,705)     37,574      55,768    (18,195)
                       -------------------------------------------------------------------------------------------------
                       Others               25,785     45,066     39,993     (14,207)    (19,281)      7,723    (27,005)
         ---------------------------------------------------------------------------------------------------------------
         Other money held in trust             (44)     3,781        510        (555)     (3,825)        135     (3,960)
         ---------------------------------------------------------------------------------------------------------------
         Total                             (34,526)   450,667    262,725    (297,251)   (485,193)    258,669   (743,864)
         ---------------------------------------------------------------------------------------------------------------
                       Stocks             (172,782)   328,026    105,894    (278,677)   (500,808)    193,875   (694,683)
                       -------------------------------------------------------------------------------------------------
                       Bonds               111,528     73,523    115,234      (3,705)     38,005      56,200    (18,195)
                       -------------------------------------------------------------------------------------------------
                       Others               26,727     49,118     41,597     (14,869)    (22,391)      8,593    (30,985)
------------------------------------------------------------------------------------------------------------------------
(Notes)        1. The figures above include unrealized gains(losses) on
                 negotiable certificates of deposit in 'deposits with banks' and
                 commercial papers as well as claims on loan trust in 'commercial paper and other debt purchased'.
                2. Unrealized gains(losses) of stocks (excluding stocks of subsidiaries and affiliates) are calculated
                 with the avarege market price during the final month
                     of the fiscal year. Rest of the securities are evaluated at the market price as of the balance
                      sheet date.
                3. "Other securities" and "other money held in trust" are evaluated and recorded on the balance sheet at
                 market prices. The figures in the table above
                     indicate the difference between the acquisition
                      cost (or amortized costs) and the balance sheet
                      amounts.
                4. Figures of unrealized gains(losses) as of Mar. 31, 2003 are those after the write-off of unrealized
                 losses on securities due to the merger. For the detail of
                    the merger accounting, please see 21 (2).

                                                                                                (Millions
                                                                                                                 of yen)
------------------------------------------------------------------------------------------------------------------------
                                           Mar. 31, 2003                                  Mar. 31, 2002
                                      ----------------------------------------------------------------------------------
                                                 Unrealized gains(losses)                 Unrealized gains(losses)
                                      -----------------------------------------------  ---------------------------------

                                                   -----------
                                           (a)       (a) - (b)   Gains      Losses       (b)        Gains      Losses
------------------------------------------------------------------------------------------------------------------------
         Held-to-maturity purpose            5,882      4,990      5,988        (105)        892       1,262       (370)
         ---------------------------------------------------------------------------------------------------------------
         Other securities                  (30,643)   464,864    272,943    (303,587)   (495,507)    260,042   (755,549)
         ---------------------------------------------------------------------------------------------------------------
                       Stocks             (165,442)   343,863    112,952    (278,395)   (509,305)    192,620   (701,926)
                       -------------------------------------------------------------------------------------------------
                       Bonds               111,164     74,705    117,093      (5,928)     36,459      58,810    (22,351)
                       -------------------------------------------------------------------------------------------------
                       Others               23,634     46,295     42,897     (19,263)    (22,661)      8,610    (31,271)
         ---------------------------------------------------------------------------------------------------------------
         Other money held in trust             (44)     3,781        510        (555)     (3,825)        135     (3,960)
         ---------------------------------------------------------------------------------------------------------------
         Total                             (24,805)   473,635    279,443    (304,248)   (498,440)    261,440   (759,881)
         ---------------------------------------------------------------------------------------------------------------
                       Stocks             (165,442)   343,863    112,952    (278,395)   (509,305)    192,620   (701,926)
                       -------------------------------------------------------------------------------------------------
                       Bonds               116,016     79,382    121,945      (5,928)     36,634      59,303    (22,669)
                       -------------------------------------------------------------------------------------------------
                       Others               24,620     50,389     44,545     (19,925)    (25,769)      9,515    (35,284)
------------------------------------------------------------------------------------------------------------------------
 (Notes)       1. The figures above include unrealized gains(losses) on
               negotiable certificates of deposit in 'deposits with banks' and
               commercial papers as well as claims on loan trust in 'commercial paper and other debt purchased'.
                2. Unrealized gains(losses) of stocks are calculated with the avarege market price during the final
                 month of the fiscal year. Rest of the securities
                     are evaluated at the market price as of the balance sheet date.
                3. "Other securities" and "other money held in trust" are evaluated and recorded on the consolidated
                 balance sheet at market prices. The figures
                     in the table above indicate the difference
                      between the acquisition cost (or amortized
                      costs) and the balance sheet amounts.



6. Overview of (Headging purpose) Derivative Transactions 

                                                                  (Billions of yen)                        (Billions of
                                                                                                                    yen)
            ------------------------------------------------------------------------------------------------------------
                                           Mar. 31, 2003                                  Mar. 31, 2002
                          ----------------------------------------------- ----------------------------------------------
                                                     Net                                           Net
                          ----------------------                          --------------------
                                                 evaluation    Deferred                        evaluation    Deferred
                            Assets  Liabilities gains(losses)gains(losses) Assets Liabilities gains(losses)gains(losses)
                                  (1)        (2)    (1) - (2)         (3)       (1)        (2)    (1) - (2)          (3)
            ------------------------------------------------------------- ----------------------------------------------
               Interest
                rate swaps     398.5      175.2        223.3       117.3     750.0      284.3        465.7         98.8
               ---------------------------------------------------------- ----------------------------------------------
               Currency
                swaps          419.5      408.0         11.5         9.6     438.0      414.1         23.9         17.3
               ---------------------------------------------------------- ----------------------------------------------
               Others           58.9       31.5         27.4        28.9      35.7       40.6         (4.9)       (23.1)
               ---------------------------------------------------------- ----------------------------------------------
            Total              876.9      614.7        262.2       155.8   1,223.7      739.0        484.7         93.0
            ------------------------------------------------------------- ----------------------------------------------

                (Notes) 1. Derivative transactions are carried at fair value in the balance sheet
                        except those to which 'the short-cut method for interest rate swap' is applied.

                      2.  The Bank adopts deferred hedge accounting by applying 'the risk adjustment approach', which is
                       one of the methods of macro hedging.

            (Reference)    Contact amount of interest rate swaps (to which deferred hedge accounting is
                           applied), classified by maturity
                                                                  (Billions of yen)                        (Billions of
                                                                                                                    yen)
            ------------------------------------------------------------------------------------------------------------
                                           Mar. 31, 2003                                  Mar. 31, 2002
                          ----------------------------------------------- ----------------------------------------------
                            1 year          1-5     over                   1 year         1-5     over
                            or less     years      5 years      Total      or less    years      5 years       Total
            ------------------------------------------------------------- ----------------------------------------------
               Receivable
                fixed rate
               /payable
                floating
                rate        20,063.1   22,188.0      6,588.7    48,839.8  26,989.8   23,894.6      2,754.3     53,638.7
               ---------------------------------------------------------- ----------------------------------------------
               Receivable
                floating
                rate
               /payable
                fixed rate  12,075.6   14,597.6      3,509.8    30,183.0  15,786.2    9,530.3      2,801.4     28,117.9
               ---------------------------------------------------------- ----------------------------------------------
               Receivable
                floating
                rate
               /payable
                floating
                rate             5.2      866.6         84.5       956.3     133.5      651.5        245.1      1,030.1
               ---------------------------------------------------------- ----------------------------------------------
            Total contract
             amount         32,143.9   37,652.2     10,183.0    79,979.1  42,909.5   34,076.4      5,800.8     82,786.7
            ------------------------------------------------------------- ----------------------------------------------



7. Employee Retirement Benefits

(1) Balance of the retirement benefit liability

                                                                                (Millions of yen)
           -------------------------------------------------------------------------------------------------------------
                                                                               Mar. 31, 2003             Mar. 31, 2002
                                                                     ----------------------------------
                                                                                            Change
           -------------------------------------------------------------------------------------------------------------
           Balance of the retirement benefit liability          (A)          1,104,255          22,572        1,081,683
                                                                                        
                    ----------------------------------------------------------------------------------------------------
                    Market value of pension assets              (B)            706,502         (28,431)         734,933
                    ----------------------------------------------------------------------------------------------------
                    Reserve for employee retirement benefits    (C)             72,816         (47,999)         120,815
                    ----------------------------------------------------------------------------------------------------
                    Prepaid pension cost                        (D)                  -               -                -
                    ----------------------------------------------------------------------------------------------------
                    Unrecognized net obligation from change of  (E)
                    accounting method                                           40,335         (20,167)          60,502
                    ----------------------------------------------------------------------------------------------------
                    Unrecognized prior service cost (deductable (F)
                    from the obligation)                                       (52,701)          6,394          (59,095)
                    ----------------------------------------------------------------------------------------------------
                    Unrecognized actuarial net gain(loss)       (A-B-
                                                                 C+D-
                                                                 E-F)          337,302         112,776          224,526
-------------------------------------------------------------------------------------------------------------
(Note) Discount rate as of Mar. 31, 2002 is that for the
            former SMBC.


 (Reference)                                                                            (Millions of yen)
-----------------------------------------------------------------------------------------------------------------------
                                                                               Mar. 31, 2003             Mar. 31, 2002
                                                                     ----------------------------------
                                                                                            Change
           -------------------------------------------------------------------------------------------------------------
           Balance of the retirement benefit liability          (A)          1,164,570         (11,389)       1,175,959
           -------------------------------------------------------------------------------------------------------------
                    Market value of pension assets              (B)            723,175         (53,913)         777,088
                    ----------------------------------------------------------------------------------------------------
                    Reserve for employee retirement benefits    (C)            101,408         (46,564)         147,972
                    ----------------------------------------------------------------------------------------------------
                    Prepaid pension cost                        (D)                  -             (27)              27
                    ----------------------------------------------------------------------------------------------------
                    Unrecognized net obligation from change of  (E)
                    accounting method                                           44,087         (26,193)          70,280
                    ----------------------------------------------------------------------------------------------------
                    Unrecognized prior service cost (deductable (F)
                    from the obligation)                                       (53,218)          7,489          (60,707)
                    ----------------------------------------------------------------------------------------------------
                    Unrecognized actuarial net gain(loss)       (A-B-
                                                                 C+D-
                                                                 E-F)          349,118         107,765          241,353
           -------------------------------------------------------------------------------------------------------------

(2) Cost for employee retirement benefits

                                                                                (Millions of yen)
           -------------------------------------------------------------------------------------------------------------
                                                                                   FY2002                   FY2001
                                                                     ----------------------------------
                                                                                            Change
           -------------------------------------------------------------------------------------------------------------
           Cost for employee retirement benefits                                65,248          13,020           52,228
           -------------------------------------------------------------------------------------------------------------
                    Service cost                                                21,782             377           21,405
                    ----------------------------------------------------------------------------------------------------
                    Interest cost                                               32,394          (2,938)          35,332
                    ----------------------------------------------------------------------------------------------------
                    Expected returns on pension assets                         (31,056)          2,077          (33,133)
                    ----------------------------------------------------------------------------------------------------
                    Amortization of net obligation from change of
                     accounting
                    method (amortized using the straight-line method
                     over 5 years)                                              20,167               -           20,167
                    ----------------------------------------------------------------------------------------------------
                    Amortization of prior service cost                          (6,394)         (1,542)          (4,852)
                    ----------------------------------------------------------------------------------------------------
                    Amortization of actuarial net gain(loss)                    22,954          17,937            5,017
                    ----------------------------------------------------------------------------------------------------
                    Others                                                       5,400          (2,890)           8,290
           -------------------------------------------------------------------------------------------------------------

           (Reference)                                                                   (Millions of yen)
           -------------------------------------------------------------------------------------------------------------
                                                                                   FY2002                   FY2001
                                                                     ----------------------------------
                                                                                            Change
           -------------------------------------------------------------------------------------------------------------
           Cost for employee retirement benefits                                79,650          15,097           64,553
           -------------------------------------------------------------------------------------------------------------


8. Capital Ratio 
                                                                                                    (Billions of yen, %)
------------------------------------------------------------------------------------------------------------------------
                                                        Mar. 31, 2003                     Mar. 31, 2002
                                      -------------------------------------------------
                                                   [Preliminary]                Change
-----------------------------------------------------------------------------------------------------------
(1) Capital ratio                                      10.10                     (0.35)              10.45
(2) Tier I                                           3,255.9                    (463.5)            3,719.4
              Net unrealized losses on
               other securities                        (24.2)                    280.6              (304.8)
(3) Tier II                                          2,961.6                    (543.2)            3,504.8
              (a) Unrealized gains on
               securities                                  -                         -                   -
              (b) Unrealized
               appreciation of land                     71.7                     (11.2)               82.9
              (c) General reserve                      739.6                    (104.8)              844.4
              (d) Subordinated debt                  2,150.3                    (427.2)            2,577.5
(4) Subtraction items                                  238.6                      75.3               163.3
(5) Total capital (2) + (3) - (4)                    5,978.9                  (1,081.9)            7,060.8
(6) Risk-adjusted assets                            59,166.8                  (8,381.2)           67,548.0
-----------------------------------------------------------------------------------------------------------

9. ROE

                                                                                              (%)
------------------------------------------------------------------------------------------------------------------------
                                                           FY2002                                   FY2001
                                      ----------------------------------------------------------------------------------
                                                                       Change              Former SMBC        Former
                                                                                                           Wakashio Bank
------------------------------------------------------------------------------------------------------------------------
ROE (numerator: Banking profit*)                        76.0                                          53.6         15.2
-------------------------------------------------------------                          ---------------------------------
ROE (numerator: Banking profit)                         59.5                                          30.5         14.7
-------------------------------------------------------------                          ---------------------------------
ROE (numerator: Net income)                            (34.1)                                        (15.5)         0.0
------------------------------------------------------------------------------------------------------------------------
*Excluding transfer to general reserve for possible loan
 losses

                                                                                          (%)
-----------------------------------------------------------------------------------------------------------
                                                           FY2002                             FY2001
                                      -------------------------------------------------
                                                                       Change
-----------------------------------------------------------------------------------------------------------
ROE (numerator: Net income)                            (43.0)                    (20.8)              (22.2)
-----------------------------------------------------------------------------------------------------------

ROE=                                    Net income - Dividends on preferred stocks
      ---------------------------------------------------------------------------------------------------------------
    {(Stockholders' equity at the beginning of the term) - (Number of preferred stocks at the beginning of the term) X
    (Issue price) + (Stockholders'equity at the end of the term) - (Number of preferred stocks at the end of the term)X
    (Issue price)} /2
                                                                                                    (%)
-----------------------------------------------------------------------------------------------------------
                                                           FY2002                             FY2001
                                      -------------------------------------------------
                                                                       Change
-----------------------------------------------------------------------------------------------------------
Fully-diluted ROE (numerator: Net
 income)                                               (17.4)                     (3.7)              (13.7)
-----------------------------------------------------------------------------------------------------------
(Note) Fully-diluted basis, including convertible preferred stocks and
mandatorily exchangeable subordinated notes

10. Classification under Self-Assessment, Disclosure of Problem Assets, and Write-Offs/Reserves


To view this information please visit:

http://www.smfg.co.jp/english/financial/statement/h1503fgfi_pdf/h1503_e3_00.pdf

11. Risk-Monitored Loans

                                                                                (Millions of yen)
------------------------------------------------------------------------------------------------------------------------
                                                  Mar. 31, 2003                                      Mar. 31, 2002
                                                                   -----------------------------
                                                                                       Change
------------------------------------------------------------------------------------------------------------------------
Risk-      Bankrupt loans
monitored
loans                                                      172,403                      (24,700)                197,103
           -------------------------------------------------------------------------------------------------------------
           Non-accrual loans                             2,390,173                     (809,504)              3,199,677
           -------------------------------------------------------------------------------------------------------------
           Past due loans (3 months or more)               114,756                       22,144                  92,612
           -------------------------------------------------------------------------------------------------------------
           Restructured loans                            2,492,199                      145,001               2,347,198
           -------------------------------------------------------------------------------------------------------------
           Total                                         5,169,531                     (667,061)              5,836,592
------------------------------------------------------------------------------------------------------------------------

           Amount of direct reduction                      925,485                     (455,322)              1,380,807

------------------------------------------------------------------------------------------------------------------------
Total loans (term-end balance)                          57,282,365                   (3,019,954)             60,302,319
------------------------------------------------------------------------------------------------------------------------

                                                                                                                     (%)
------------------------------------------------------------------------------------------------------------------------
Ratio to   Bankrupt loans
total loans                                                    0.3                          0.0                     0.3
           -------------------------------------------------------------------------------------------------------------
           Non-accrual loans                                   4.2                         (1.1)                    5.3
           -------------------------------------------------------------------------------------------------------------
           Past due loans (3 months or more)                   0.2                          0.0                     0.2
           -------------------------------------------------------------------------------------------------------------
           Restructured loans                                  4.4                          0.5                     3.9
           -------------------------------------------------------------------------------------------------------------
           Total                                               9.0                         (0.7)                    9.7
------------------------------------------------------------------------------------------------------------------------


                                                                                         (Millions of yen)
------------------------------------------------------------------------------------------------------------------------
                                                  Mar. 31, 2003                                      Mar. 31, 2002
                                                                   -----------------------------
                                                                                       Change
------------------------------------------------------------------------------------------------------------------------
Risk-      Bankrupt loans
monitored
loans                                                      201,392                      (26,092)                227,484
           -------------------------------------------------------------------------------------------------------------
           Non-accrual loans                             2,710,164                     (889,586)              3,599,750
           -------------------------------------------------------------------------------------------------------------
           Past due loans (3 months or more)               130,353                       27,591                 102,762
           -------------------------------------------------------------------------------------------------------------
           Restructured loans                            2,728,791                      174,420               2,554,371
           -------------------------------------------------------------------------------------------------------------
           Total                                         5,770,700                     (713,667)              6,484,367
------------------------------------------------------------------------------------------------------------------------

           Amount of direct reduction                    1,273,360                     (495,480)              1,768,840

------------------------------------------------------------------------------------------------------------------------
Total loans (term-end balance)                          61,082,946                   (2,562,640)             63,645,586
------------------------------------------------------------------------------------------------------------------------

                                                                                                                     (%)
------------------------------------------------------------------------------------------------------------------------
Ratio to   Bankrupt loans
total loans                                                    0.3                         (0.1)                    0.4
           -------------------------------------------------------------------------------------------------------------
           Non-accrual loans                                   4.4                         (1.3)                    5.7
           -------------------------------------------------------------------------------------------------------------
           Past due loans (3 months or more)                   0.2                          0.0                     0.2
           -------------------------------------------------------------------------------------------------------------
           Restructured loans                                  4.5                          0.5                     4.0
           -------------------------------------------------------------------------------------------------------------
           Total                                               9.4                         (0.8)                   10.2
------------------------------------------------------------------------------------------------------------------------



12. Reserve for Possible Loan Losses

                                                                                (Millions of yen)
------------------------------------------------------------------------------------------------------------------------
                                                                        Mar. 31, 2003                    Mar. 31, 2002
                                                                                       ----------------
                                                                                            Change
------------------------------------------------------------------------------------------------------------------------
Reserve for possible loan losses                                             2,074,797          98,005        1,976,792
------------------------------------------------------------------------------------------------------------------------
              General reserve                                                1,113,235         238,132          875,103
              ----------------------------------------------------------------------------------------------------------
              Specific reserve                                                 949,996        (136,246)       1,086,242
              ----------------------------------------------------------------------------------------------------------
              Loan loss reserve for specific overseas countries                 11,566          (3,879)          15,445
------------------------------------------------------------------------------------------------------------------------

              Amount of direct reduction                                       954,041        (458,173)       1,412,214

------------------------------------------------------------------------------------------------------------------------
Reserve for possible losses on loans sold                                       17,169         (63,981)          81,150
------------------------------------------------------------------------------------------------------------------------

                                                                                         (Millions of yen)
------------------------------------------------------------------------------------------------------------------------
                                                                        Mar. 31, 2003                    Mar. 31, 2002
                                                                                       ----------------
                                                                                            Change
------------------------------------------------------------------------------------------------------------------------
Reserve for possible loan losses                                             2,243,542          83,893        2,159,649
------------------------------------------------------------------------------------------------------------------------
              General reserve                                                1,173,927         244,466          929,461
              ----------------------------------------------------------------------------------------------------------
              Specific reserve                                               1,058,048        (156,685)       1,214,733
              ----------------------------------------------------------------------------------------------------------
              Loan loss reserve for specific overseas countries                 11,566          (3,888)          15,454
------------------------------------------------------------------------------------------------------------------------

              Amount of direct reduction                                     1,324,459        (499,815)       1,824,274

------------------------------------------------------------------------------------------------------------------------
Reserve for possible losses on loans sold                                       20,665         (65,706)          86,371
------------------------------------------------------------------------------------------------------------------------

13. Reserve Ratio to Risk-Monitored Loans

                                                                                              (%)
------------------------------------------------------------------------------------------------------------------------
                                                                        Mar. 31, 2003                    Mar. 31, 2002
                                                                                       ----------------
                                                                                                Change
------------------------------------------------------------------------------------------------------------------------
Before direct reduction                                                           49.7             2.7             47.0
------------------------------------------------------------------------------------------------------------------------
After direct reduction                                                            40.1             6.2             33.9
------------------------------------------------------------------------------------------------------------------------

                                                                                                       (%)
------------------------------------------------------------------------------------------------------------------------
                                                                        Mar. 31, 2003                    Mar. 31, 2002
                                                                                       ----------------
                                                                                            Change
------------------------------------------------------------------------------------------------------------------------
Before direct reduction                                                           50.7             2.4             48.3
------------------------------------------------------------------------------------------------------------------------
After direct reduction                                                            38.9             5.6             33.3
------------------------------------------------------------------------------------------------------------------------
(Note) Reserve ratio to risk-monitored loans = (Reserve for possible loan losses) / (Risk-monitored loans)


14. Problem Assets Based on the Financial Reconstruction Law

                                                                               (Millions of yen,
                                                                                                                      %)
------------------------------------------------------------------------------------------------------------------------
                                                                           Mar. 31, 2003                Mar. 31, 2002
                                                              ----------------------------------------
                                                                                             Change
------------------------------------------------------------------------------------------------------------------------
              Bankrupt and quasi-bankrupt assets                            524,889            26,626           498,263
              ----------------------------------------------------------------------------------------------------------
              Doubtful assets                                             2,129,501          (852,772)        2,982,273
              ----------------------------------------------------------------------------------------------------------
              Substandard loans                                           2,606,955           167,145         2,439,810
              ----------------------------------------------------------------------------------------------------------
Total (A)                                                                 5,261,345          (659,002)        5,920,347
========================================================================================================================

              Normal assets                                              57,313,355        (3,600,943)       60,914,298
------------------------------------------------------------------------------------------------------------------------
              Total (B)                                                  62,574,700        (4,259,945)       66,834,645
------------------------------------------------------------------------------------------------------------------------
Problem asset ratio (A/B)                                                       8.4              (0.5)              8.9
------------------------------------------------------------------------------------------------------------------------

Amount of direct reduction                                                  954,041          (458,173)        1,412,214

(Note)      In addition to loans, "Problem Assets Based on the
            Financial Reconstruction Law" includes acceptances and
            guarantees, suspense payments, and other credit-type
            assets.
                                                                                                       (Millions of yen)
------------------------------------------------------------------------------------------------------------------------
                                                                           Mar. 31, 2003                Mar. 31, 2002
                                                              ----------------------------------------
                                                                                          Change
------------------------------------------------------------------------------------------------------------------------
Total coverage (C)                                                        4,036,463          (502,763)        4,539,226
------------------------------------------------------------------------------------------------------------------------
              Reserve for possible loan losses* (D)                       1,490,852           113,549         1,377,303
              ----------------------------------------------------------------------------------------------------------
              Reserve for supporting specific borrowers                           -                 -                 -
              ----------------------------------------------------------------------------------------------------------
              Amount recoverable due to guarantees, collateral
               and others (E)                                             2,545,611          (616,311)        3,161,922
------------------------------------------------------------------------------------------------------------------------
* Sum of general reserve for substandard loans and specific reserve.
                                                                                                                     (%)
------------------------------------------------------------------------------------------------------------------------
Coverage ratio (C) / (A)                                                       76.7               0.0              76.7
------------------------------------------------------------------------------------------------------------------------
Coverage ratio calculated with total reserve for possible loan
 losses
included in the numerator                                                      87.8               1.0              86.8

                                                                                                                     (%)
------------------------------------------------------------------------------------------------------------------------
Reserve ratio to unsecured assets                                              54.9               5.0              49.9
(D) / (A - E)
------------------------------------------------------------------------------------------------------------------------
Reserve ratio calculated with total reserve for possible loan
 losses
 included in the numerator                                                     76.4               4.7              71.7


                                                                                        (Millions of yen,
                                                                                                                      %)
------------------------------------------------------------------------------------------------------------------------
                                                                           Mar. 31, 2003                Mar. 31, 2002
                                                              ----------------------------------------
                                                                                             Change
------------------------------------------------------------------------------------------------------------------------
              Bankrupt and quasi-bankrupt assets                            655,976            17,740           638,236
              ----------------------------------------------------------------------------------------------------------
              Doubtful assets                                             2,340,207          (923,213)        3,263,420
              ----------------------------------------------------------------------------------------------------------
              Substandard loans                                           2,857,590           191,521         2,666,069
              ----------------------------------------------------------------------------------------------------------
Total (A)                                                                 5,853,773          (713,952)        6,567,725
========================================================================================================================

              Normal assets                                              59,330,555        (2,565,869)       61,896,424
------------------------------------------------------------------------------------------------------------------------
              Total (B)                                                  65,184,328        (3,279,821)       68,464,149
------------------------------------------------------------------------------------------------------------------------
Problem asset ratio (A/B)                                                       9.0              (0.6)              9.6
------------------------------------------------------------------------------------------------------------------------

                                                                                                       (Millions of yen)
------------------------------------------------------------------------------------------------------------------------
                                                                           Mar. 31, 2003                Mar. 31, 2002
                                                              ----------------------------------------
                                                                                              Change
------------------------------------------------------------------------------------------------------------------------
Total coverage (C)                                                        4,460,614          (482,481)        4,943,095
------------------------------------------------------------------------------------------------------------------------
              Reserve for possible loan losses* (D)                       1,569,412           175,092         1,394,320
              ----------------------------------------------------------------------------------------------------------
              Reserve for supporting specific borrowers                           -                 -                 -
              ----------------------------------------------------------------------------------------------------------
              Amount recoverable due to guarantees, collateral
               and others (E)                                             2,891,202          (657,573)        3,548,775
------------------------------------------------------------------------------------------------------------------------

                                                                                                                     (%)
------------------------------------------------------------------------------------------------------------------------
Coverage ratio (C) / (A)                                                       76.2               0.9              75.3
------------------------------------------------------------------------------------------------------------------------
Coverage ratio calculated with total reserve for possible loan
 losses
included in the numerator                                                      87.7               0.8              86.9

                                                                                                                     (%)
------------------------------------------------------------------------------------------------------------------------
Reserve ratio to unsecured assets                                              53.0               6.8              46.2
(D) / (A - E)
------------------------------------------------------------------------------------------------------------------------
Reserve ratio calculated with total reserve for possible loan
 losses
 included in the numerator                                                     75.7               4.2              71.5


(Reference) Progress of Off-Balancing of Problem Assets 

1. Problem assets existing prior to and classified during the first half of FY2000 

     (1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
      Reconstruction Law
                                                                                                            (Billions of
                                                                                                                    yen)
     -------------------------------------------------------------------------------------------------------------------
                                Sep. 30,     Mar. 31,      Sep. 30,      Mar. 31,     Sep. 30,    Mar. 31,
                                                                                                            ------------
                                      2000         2001          2001          2002         2002       2003    Change
     -------------------------------------------------------------------------------------------------------------------
     Bankrupt and quasi-
      bankrupt assets                653.0        475.2         379.5         283.3        240.3      144.5       (95.8)
     -------------------------------------------------------------------------------------------------------------------
     Doubtful assets               2,594.8      1,361.6       1,055.7         848.3        661.1      255.6      (405.5)
     -------------------------------------------------------------------------------------------------------------------
     Total                         3,247.8      1,836.8       1,435.2       1,131.6        901.4      400.1      (501.3)
     -------------------------------------------------------------------------------------------------------------------
                                                                                                     (A)        (B)
     (Note) Balance as of Mar. 31, 2003 includes JPY 151.2 billion, the result of measures connected to off-balancing.
      The measures connected to off-balancing are legal reorganizations,
                measures associated with legal reorganizations,
                 corporate splits to good companies and bad companies,
                 partial direct write-offs of retail exposure to
                 individuals and small-
                and medium-sized enterprizes, and trusts to RCC for
                 the purpose of revitalization which is scheduled to
                 be off-balanced before the maturity.

     (2) Progress of off-balancing
                           (Billions of yen)
     -----------------------------------------------------------------
                                           Second half      (Notes) 1."Disposition by borrowers' liquidation" refers to
                                                 of                    abandonment or
                                              FY2002                   write-off of loans involved in bankruptcy
                                                                       liquidation proceedings (bankruptcy or special 
                                                                       liquidations).
     ---------------------------------------------------
     Disposition by borrowers' liquidation        (48.9)              
     ---------------------------------------------------
     Reconstructive disposition --- (a)                            2.   "Reconstructive disposition" refers to abandonment
                                                  (11.3)              of loans involved in
     ---------------------------------------------------
     Improvement in debtors' performance                              rehabilitative bankruptcy proceedings (corporate
      due to (a)                                      -                reorganization, civil
     ---------------------------------------------------
     Loan sales to market                                             rehabilitation, composition and arrangement), loan
                                                 (819.6)               forgiveness
     ---------------------------------------------------
     Direct write-offs                                                involved in special mediation or other types of
                                                  513.9                civil mediation, or loan
     ---------------------------------------------------
     Others                                                           forgiveness for restructuring involved in private
                                                 (135.4)               reorganization.
     ---------------------------------------------------
             Collection/repayment, etc.                               "Improvement in debtors' performance due to re-
                                                  (70.3)           3.  constructive
             -------------------------------------------
             Improvement in debtors'                                  disposition" was categorized as "Others" in FY2000
              performance                         (65.1)               financial
     ---------------------------------------------------
     Total                                       (501.3)(B)           results published in May 2001.
     ---------------------------------------------------


2. Problem assets classified during the second half of FY2000

     (1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
      Reconstruction Law
                                                                                                       (Billions of yen)
     -------------------------------------------------------------------------------------------------------------------
                                Mar. 31,     Sep. 30,      Mar. 31,      Sep. 30,     Mar. 31,
                                                                                                 -----------
                                      2001         2001          2002          2002         2003   Change
     -------------------------------------------------------------------------------------------------------
     Bankrupt and quasi-
      bankrupt assets                118.8        142.2          57.7          52.1         29.0      (23.1)
     -------------------------------------------------------------------------------------------------------
     Doubtful assets                 592.6        269.7         145.2         112.7         81.9      (30.8)
     -------------------------------------------------------------------------------------------------------
     Total                           711.4        411.9         202.9         164.8        110.9      (53.9)
     -------------------------------------------------------------------------------------------------------
                                                                                         (C)         (D)
     (Note) Balance as of Mar. 31, 2003 includes JPY 23.4 billion, the result of measures connected to off-balancing.

     (2) Progress of off-balancing
                                                                   (Billions of yen)
     -------------------------------------------------------------------------------
                                                     Second half of FY2002
     -------------------------------------------------------------------------------
     Disposition by borrowers' liquidation                       (1.6)
     -----------------------------------------------------------------
     Reconstructive disposition --- (a)                          (5.6)
     -----------------------------------------------------------------
     Improvement in debtors' performance due to (a)                 -
     -----------------------------------------------------------------
     Loan sales to market                                       (75.8)
     -----------------------------------------------------------------
     Direct write-offs                                           45.8
     -----------------------------------------------------------------
     Others                                                     (16.7)
     -----------------------------------------------------------------
             Collection/repayment, etc.                         (12.9)
             ---------------------------------------------------------
             Improvement in debtors' performance                 (3.8)
     -----------------------------------------------------------------
     Total                                                      (53.9)(D)
     -----------------------------------------------------------------


3. Problem assets classified during the first half of FY2001

     (1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
      Reconstruction Law
                                                                                           (Billions of yen)
     -------------------------------------------------------------------------------------------------------
                                Sep. 30,     Mar. 31,      Sep. 30,      Mar. 31,
                                                                                    -------------
                                      2001         2002          2002          2003    Change
     --------------------------------------------------------------------------------------------
     Bankrupt and quasi-
      bankrupt assets                 56.6         76.6          66.0          41.7        (24.3)
     --------------------------------------------------------------------------------------------
     Doubtful assets                 332.5        236.9         163.1          99.5        (63.6)
     --------------------------------------------------------------------------------------------
     Total                           389.1        313.5         229.1         141.2        (87.9)
     --------------------------------------------------------------------------------------------
                                                                           (E)           (F)
     (Note) Balance as of Mar. 31, 2003 includes JPY 31.9 billion, the result of measures connected to off-balancing.



4. Problem assets classified during the second half of FY2001

    (1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
     Reconstruction Law
                                                                                (Billions of
                                                                                         yen)
    -----------------------------------------------------------------------------------------
                                          Mar. 31,   Sep. 30,  Mar. 31,
                                                                        -------------
                                               2002      2002      2003    Change
    ---------------------------------------------------------------------------------
    Bankrupt and quasi-bankrupt assets         80.6      96.4      60.5   (35.9)
    ---------------------------------------------------------------------------------
    Doubtful assets                         1,751.9   1,131.5     729.5  (402.0)
    ---------------------------------------------------------------------------------
    Total                                   1,832.5   1,227.9     790.0  (437.9)
    ---------------------------------------------------------------------------------
                                                                (G)         (H)
    (Note) Balance as of Mar. 31, 2003 includes JPY 56.1 billion, the result of measures connected to off-balancing.

    (2) Progress of off-balancing
                                                               (Billions of yen)
    ----------------------------------------------------------------------------
                            Second half of
                                FY2002
    --------------------------------------------------------------------
    Disposition by borrowers' liquidation                          (0.5)
    --------------------------------------------------------------------
    Reconstructive disposition --- (a)                            (93.8)
    --------------------------------------------------------------------
    Improvement in debtors' performance due to (a)                (42.7)
    --------------------------------------------------------------------
    Loan sales to market                                          (10.0)
    --------------------------------------------------------------------
    Direct write-offs                                             (16.5)
    --------------------------------------------------------------------
    Others                                                       (274.4)
    --------------------------------------------------------------------
           Collection/repayment, etc.                            (111.1)
           -------------------------------------------------------------
          Improvement in debtors' performance                   (163.3)
------------------------------------------------------------------------
    Total                                                        (437.9)(H)
    --------------------------------------------------------------------

5. Problem assets classified during the first half of FY2002

    (1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
     Reconstruction Law
                                                               (Billions of yen)
    ----------------------------------------------------------------------------
                                          Sep. 30,   Mar. 31,
                                                              ----------
                           2002 2003 Change
    --------------------------------------------------------------------
    Bankrupt and quasi-bankrupt assets         64.5     204.8     140.3
    --------------------------------------------------------------------
    Doubtful assets                           483.9     153.6    (330.3)
    --------------------------------------------------------------------
    Total                                     548.4     358.4    (190.0)
    --------------------------------------------------------------------
                                                       (I)       (J)
    (Note) Balance as of Mar. 31, 2003 includes JPY 107.7 billion, the result of measures connected to off-balancing.

    (2) Progress of off-balancing                                       (Reference) Progress of off-
                                                                         balancing
                                                                                           (Second half of FY2002 total)
                                                       (Billions of yen)                               (Billions of yen)
    --------------------------------------------------------------------------------------------------------------------
                                                        Second half                                      Second half
                                                         of FY2002                                        of FY2002
    --------------------------------------------------------------------------------------------------------------------
    Disposition by borrowers' liquidation                               Disposition by borrowers'
                                                            -            liquidation                              (52.0)
    ----------------------------------------------------------          ------------------------------------------------
    Reconstructive disposition --- (a)                                  Reconstructive disposition
                                                         (7.7)           --- (a)                                 (124.2)
    ----------------------------------------------------------          ------------------------------------------------
    Improvement in debtors' performance due to (a)                      Improvement in debtors'
                                                            -            performance due to (a)                   (42.7)
    ----------------------------------------------------------          ------------------------------------------------
    Loan sales to market                                 (4.7)          Loan sales to market                     (924.6)
    ----------------------------------------------------------          ------------------------------------------------
    Direct write-offs                                  (109.5)          Direct write-offs                         423.2
    ----------------------------------------------------------          ------------------------------------------------
    Others                                              (68.1)          Others                                   (550.7)
    ----------------------------------------------------------          ------------------------------------------------
           Collection/repayment, etc.                                           Collection/repayment,
                                                        (62.1)                   etc.                            (306.0)
           ---------------------------------------------------                  ----------------------------------------
          Improvement in debtors' performance                                  Improvement in
                                                         (6.0)                   debtors' performance            (244.7)
--------------------------------------------------------------          ------------------------------------------------
    Total                                              (190.0)(J)       Total                                  (1,271.0)
    ----------------------------------------------------------          ------------------------------------------------
                                                                                                     (B)+(D)+(F)+(H)+(J)
6. Problem assets classified during the second half of FY2002

    (1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
     Reconstruction Law

                                                       (Billions of yen)
    --------------------------------------------------------------------
                                             Mar. 31, 2003
    ----------------------------------------------------------
    Bankrupt and quasi-bankrupt assets                   44.4
    ----------------------------------------------------------
    Doubtful assets                                     809.4
    ----------------------------------------------------------
    Total                                               853.8 (K)
    ----------------------------------------------------------

    (Note) Balance as of Mar. 31, 2003 includes JPY 40.7 billion, the result of measures connected to off-balancing.

(Reference)  Balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on  the Financial Reconstruction
Law (Billions of yen)
    --------------------------------------------------------------------------------------------------------------------
                                          Sep. 30,   Mar. 31,  Sep. 30,   Mar. 31,   Sep. 30,Mar. 31,
                                                                                                     -------------------
                                               2000      2001      2001    2002         2002    2003       Change
    --------------------------------------------------------------------------------------------------------------------
    Bankrupt and quasi-bankrupt assets        653.0     594.0     578.3   498.2        519.3   524.9                5.6
    --------------------------------------------------------------------------------------------------------------------
    Doubtful assets                         2,594.8   1,954.1   1,657.9 2,982.3      2,552.3 2,129.5             (422.8)
    --------------------------------------------------------------------------------------------------------------------
    Total                                   3,247.8   2,548.1   2,236.2 3,480.5      3,071.6 2,654.4             (417.2)
    --------------------------------------------------------------------------------------------------------------------

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   Short Name: Sumitomo Mitsui Bnkg
   Category Code: FR
   Sequence Number: 00005205
   Time of Receipt (offset from UTC): 20030528T132625+0100

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