MUFG Bank, Ltd. is the largest bank in Japan. It was established on January 1, 2006, following the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. The bank serves as the core retail, corporate, and investment banking arm of the Mitsubishi UFJ Financial Group. Its traditional client base is made up of Japanese corporates, but overseas corporate lending increased 35% in the nine months to December 31, 2011.
The bank has steadily increased its tier 1 capital ratios from 7.76% in 2009 to 13.04% as reported in February 2012, and its credit ratings have been unaffected by developments in Europe. Standard & Poor’s assigned BTMU’s most recent series of senior unsecured bonds an A-plus rating (as at February 2012). As of 31 October 2010, MUFG Bank was ranked by Bloomberg as the largest bank in Japan and the eighth largest in the world.
The bank’s head office is in Marunouchi, Chiyoda, Tokyo, and it has 772 other offices in Japan and 76 offices overseas.
Global banking giants including Barclays from Europe, Credit Suisse, UBS, and MUFG Bank, together announce the Utility Settlement Coin (USC) cryptocurrency to leverage instant cross-border settlements at reduced costs.
After months of speculation about its proposed release date, Japan’s largest bank, Mitsubishi UFJ Financial Group Inc. has finally announced plans to launch its long-awaited in-house digital currency.
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