Sumitomo Mitsui Banking Corp. will enter into a partnership with JSC VTB Bank to help each other's customers with their business expansion plans, The Nikkei reported Dec. 13.

The banking unit of Sumitomo Mitsui Financial Group Inc. and the Russian bank will introduce each other's customers to help them with their business expansion. The banks are set to sign an agreement during Russian President Vladimir Putin's Dec. 15-16 visit to Japan, the publication reported.