# SMBC Private Banking: PRESTIA and the trust core

> SMBC private banking — the two-layer model: PRESTIA with an English perimeter (official statuses from ¥3m) and the trust bank with testamentary trusts; DIC ¥10m cover on yen.

Last modified: 2026-10-19T00:00:00.000Z
Canonical: https://wiki.private.law/en/smbc-private
Publisher: wiki.private.law (https://wiki.private.law)
Version: 9a3505dfe927978e80b53bfc8a5326356c231764139b907d1556b70ec0090460
Cite as: SMBC Private Banking: PRESTIA and the trust core. wiki.private.law. https://wiki.private.law/en/smbc-private. Version 9a3505dfe927978e80b53bfc8a5326356c231764139b907d1556b70ec0090460.
Topics: banking
Jurisdictions: japan
Functional tags: private-banking
Product tags: bank, wealth-planning, investment, custody, trust, estate-planning
Semantic tags: private-banking, bank, wealth-planning, investment, custody, trust, estate-planning

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## Concept

**SMBC private banking** is the private client business of the SMFG group (Sumitomo Mitsui) in two places: SMBC's Private Advisory Division (since 2007 — for business owners, succession and capital) and SMBC Trust Bank, which absorbed Société Générale's Japanese private bank (2013) and Citibank Japan's retail business (2015, the PRESTIA brand). **Type**: divisions inside a megagroup (SMFG: assets of ¥306tn); the SMFG president is Toru Nakashima, and SMBC Trust Bank has been led by Kotaro Hagiwara since 2024. PRESTIA is a rare-in-Japan offering with full English support, but for residents only.

## History and evolution

SMBC was formed in the 2001 merger; the trust bank followed the line Chemical Trust → Chase Trust → SG Private Banking Japan → SMBC Trust Bank (October 2013). In November 2015 Citibank Japan's retail business was folded in (~740,000 customers, ¥2.44tn of deposits) — creating PRESTIA. In June 2025 the group announced a [joint venture with SBI](https://www.smfg.co.jp/news/pdf/j20250616_01.pdf) in wealth management (SMBC Group 60%, SBI Group 40%) as the asset-management service of Olive's new top tier, Olive Infinite; the company, Olive Consulting, was established in August 2025 and began operating in May 2026.

Scale: SMBC Trust Bank deposits of ¥3.71tn (March 2025), assets including trust accounts of ¥4.58tn; the bank claims Japan's #1 foreign-currency deposit balance; group FY3/2025 profit of ¥1.18tn (+22%).

> 🍓 SMBC Trust Bank is a DIC member: yen deposits are protected up to ¥10m of principal plus interest per depositor; foreign-currency deposits are not covered; structured "premium" deposits only while yen-denominated. Trust assets and securities remain the client's property.

## Regulation

- **FSA / Bank of Japan** — SMBC, SMBC Trust Bank and SMBC Nikko Securities;
- SMBC Trust Bank has no overseas branches — the network is domestic (PRESTIA); the group's overseas points serve the corporate perimeter.
## Source of funds and compliance

For foreign residents: a residence card with a current address and at least three months' remaining stay; for fresh cards, proof of employment or six months' residence; no applications from overseas addresses. Private banking adds the [source-of-funds](https://wiki.private.law/source-of-funds) file. No public FSA enforcement against SMBC Trust Bank under SMBC ownership (2013–2026) was identified; the group episode — the FSA orders against SMBC Nikko (October 2022, market manipulation) — concerns the brokerage arm, not private banking.

> 💡 Prepare the source-of-wealth file in advance: sale of a business, dividends, inheritance. The mechanics are covered in the guide on [documenting source of funds](https://wiki.private.law/source-of-funds).

## Who it serves

- **PRESTIA (official statuses)**: Digital Gold — from ¥3m under management; Gold — a total relationship from ¥10m plus ¥3m under management; Gold Premium — from ¥50m plus ¥10m;
- **SMBC Trust Bank Private Banking**: no published threshold (individual onboarding); per publications — a benchmark from ~¥100m (unofficial);
- **SMBC Private Advisory**: no published threshold; per industry data — ~¥300–500m (unofficial);
- **foreign residents of Japan** — PRESTIA with a full English perimeter: branches, phone, online and documents in English.
## Services

### SMBC Trust Bank Private Banking

- dedicated private bankers; discretionary management via discretionary trusts, private-placement funds, structured deposits;
- inheritance trusts: SMBC is the only megabank running testamentary trusts in-house; art trusts and real-estate security tokens;
- [securities-backed loans](https://wiki.private.law/lombard-lending) and real-estate brokerage/appraisal.
### SMBC Private Advisory Division

- business and wealth succession for owners, investment-management support, employee-benefit programs for owners' companies.
### PRESTIA

- deposits in 17 currencies, 120+ foreign-domiciled funds, the GLOBAL PASS multi-currency debit card (ATMs in 200+ countries); housing loans up to ¥500m with no surcharge for non-Japanese; inheritance services (the patented Smart Inheritance Account, 2025).
## Entities and booking centres

| Jurisdiction | Legal entity | Format and supervisor | Role for the client |
| --- | --- | --- | --- |
| Japan | SMBC (PA Division) + SMBC Trust Bank (+ PRESTIA) | FSA | domestic market; the trust bank has no overseas branches |

The group's international perimeter (SMBC, Nikko) serves corporate and institutional clients, not private banking.

## Strengths

- the only megabank with in-house testamentary trusts;
- PRESTIA — a full English perimeter for foreign residents, the Citibank Japan heritage;
- a two-layer model: affluent retail PRESTIA plus genuine private banking;
- SMFG's group power and the new SBI joint venture, Olive Consulting.
## Where it does not fit

- non-residents: an account requires a Japanese address;
- those seeking a published private-banking threshold — none exists (only the PRESTIA statuses are published);
- clients needing international booking: the trust bank has no overseas network;
- portfolios centred on crypto assets.
SMBC private banking is Japan's two-layer model: PRESTIA for affluent residents and a trust bank for large fortunes with an inheritance core; by construction it has no international map.

## Q/A

### Entry and model

### What minimum capital is required?

Only the PRESTIA statuses are published: Digital Gold from ¥3m under management, Gold from ¥10m total, Gold Premium from ¥50m. The true private-banking threshold at SMBC Trust Bank is unpublished (publications cite ~¥100m), and the Private Advisory Division publishes none either (industry data points to ~¥300–500m).

### Can a foreigner open an account?

Yes, if resident in Japan: PRESTIA requires a residence card with a current address and at least three months' remaining stay; fresh residents need proof of employment or six months' residence. PRESTIA is a rare fully English banking service in Japan: branches (Akasaka, Hiroo), phone, online and documents in English. Non-residents cannot open an account.

### What does deposit insurance cover?

The DIC — up to ¥10m of principal plus interest on yen deposits per depositor; foreign-currency deposits are not covered. Trust assets and securities remain the client's property.

### History

### Where did PRESTIA come from?

From the purchase of Citibank Japan's retail business: in November 2015 SMBC Trust Bank absorbed ~740,000 customers, ¥2.44tn of deposits and the branch network; the PRESTIA brand launched at the same time. The trust bank itself was previously Société Générale's Japanese private bank (acquired in 2013).

### What is the SBI joint venture?

June 2025: an SMFG–SBI wealth-management joint venture (SMBC Nikko 30%, SBI Securities 30%, SMBC 20%, SMFG and SBI 10% each); the company, Olive Consulting, was established in August 2025 and has operated since May 2026 as the asset-management service of Olive Infinite. It widens the shelf rather than changing the private-banking model.

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