Bank of Hope Completes Acquisition of the Commercial Banking Unit of SMBC MANUBANK
Key Highlights
- ➤Hope Bancorp (HOPE) completes acquisition of SMBC MANUBANK’s Commercial Banking Unit
- ➤Acquisition expands Greater Los Angeles commercial banking footprint and client base
- ➤SMBC partnership gives Bank of Hope access to Japan-based middle-market and retail customers
- ➤Transaction adds seven California locations to Bank of Hope’s network
Expert Statements
Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp
“The completion of this transaction represents an important milestone in the continued evolution of Bank of Hope.”
Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp
“By bringing together MANUBANK’s experienced bankers and longstanding client relationships with our broader banking platform, we are expanding our commercial capabilities to better serve our customers and introducing new opportunities to strengthen client engagement.”
Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp
“Our partnership with SMBC opens a meaningful channel to connect businesses across markets.”
Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp
“We believe the combination of SMBC’s global network and Bank of Hope’s commercial banking expertise creates a compelling offering for these clients.”
Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp
“We are pleased to welcome the MANUBANK team and customers to Bank of Hope.”
Bank of Hope Completes Acquisition of the Commercial Banking Unit of SMBC MANUBANK
Hope Bancorp, Inc. (NASDAQ: HOPE) today announced that its wholly-owned subsidiary, Bank of Hope (“the Bank”), has completed its previously announced acquisition of the Commercial Banking Unit of SMBC MANUBANK (“MANUBANK”), a wholly-owned subsidiary of SMBC Americas Holdings, Inc. and Sumitomo Mitsui Banking Corporation (“SMBC”).
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