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Tokyo Mitsubishi UFJ Bank

By: EconomyWatch Content Date: 28 October 2009

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The Bank of Tokyo-Mitsubishi UFJ Ltd is a financial services organization headquartered in Tokyo, Japan and established in January 2006. The bank was a result of a merger between The Bank of Tokyo-Mitsubishi Ltd and UFJ Bank Ltd. The Bank of Tokyo-Mitsubishi is the retail and commercial banking division of Mitsubishi UFJ Financial Group and is the second largest bank in the world in terms of assets.

The Bank of Tokyo-Mitsubishi was established in August 1919 as The Mitsubishi Bank Ltd in Tokyo. As on 2008-2009, the parent holding company had more than 34,000 employees spread across more than 850 domestic and international branches. The bank’s capital stock is at almost ¥1,200,000 million.

The Bank of Tokyo Ltd was established in 1880. In the same year, The Mitsubishi Bank Ltd was founded. In April 1996, The Mitsubishi Bank Ltd and The Bank of Tokyo Ltd merged. In July 2004, UFJ Holdings merged with Mitsubishi Group. The Bank of Tokyo-Mitsubishi Ltd and UFJ Bank continued to operate separately until January 1, 2006, when they were merged to form The Bank of Tokyo-Mitsubishi UFJ Ltd.

Tokyo Mitsubishi UFJ Bank: Payment Solutions

The Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU) provides Yen clearing and payment solutions to various financial organizations in and out of Japan. The BTMU provides Yen Clearing Services backed by:

· A strong capital foundation

· High liquidity

· Expertise in technology and product

· Japan’s renowned banking services network.

Bank of Tokyo-Mitsubishi UFJ provides Yen Clearing through the Foreign Exchange Yen Clearing System (FXYCS). FXYCS is the primary clearing system for the entry of overseas clients into the Japanese market.

Bank of Tokyo-Mitsubishi UFJ is one of the four Asian banks that are members of the Euro Banking Association (EBA). BTMU also holds a 100% stake in UnionBanCal Corporation, San Francisco, California. Moreover, it holds a 9.66% stake in Hong Kong, China, 21% stake in Morgan Stanley, New York, and 9.9% stake in Aberdeen Asset Management, Aberdeen, Scotland.