The lender was granted a license by the Reserve Bank of India (RBI) in May last year, and the launch will enable the lender to tap the growing business opportunity in the country.
"The Indian economy is expected to grow further in the coming years, and the opening of New Delhi branch will enable us to tailor our response to the financial needs of Japanese corporate and other clients in India," the bank said in a statement.
Sumitomo Mitsui Banking Corporation president and CEO Takeshi Kunibe was quoted by the Economic Times as saying, "SMBC’s re-entry into India is a sign of our commitment to the country and to its banking and finance sector."
"We are encouraged by the high growth potential of the region and believe that India is an important emerging market and will help us realize our mission of becoming a full-line global financial services group," Kunibe added.
Having closed its Mumbai and New Delhi branches in February 2005, the Japanese lender signed a partnership agreement with Standard Chartered to set up a Japan desk in its India office.
Following the receipt of license from RBI, the bank ended its agreement with the UK bank.
