Sumitomo Bank of California said it has been promised up to $180 million in fresh capital by its Japanese parent, Sumitomo Bank Ltd., to reduce remaining problem assets and diversify operations.

Tadaichi Ikagawa, Sumitomo California's president, said the bank hoped to trim its remaining bad loans and other nonperforming assets as well as the expense of carrying them. This, he said, would permit the California bank to "concentrate all of our resources and energy on moving ahead in building more profitable lines of business."

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