MUFG Bank (Japanese: Mitsubishi UFJ Bank ／みつびしユーエフジェイぎんこう Mitsubishi Yıefujei Ginkó) Is A Japanese Metropolitan Bank Formed By The Merger Of The Bank Of Tokyo-Mitsubishi And UFJ Bank On January 1, 2006. It Is A Subsidiary Of Mitsubishi UFJ Financial Group, The Largest Financial Group In Japan By Assets. The Bank Is Located In The Marunouchi Business District Of Tokyo, Adjacent To The Imperial Palace.
The Predecessor Of MUFG Bank Was Formed By The Merger Of The Bank Of Tokyo-Mitsubishi And UFJ Bank. It Was Established On January 1, 2006 As "The Bank Of Tokyo-Mitsubishi UFJ" And Changed To Its Current Name On April 1, 2018.
The Bank Of Tokyo-Mitsubishi, Ltd., Is A Member Of The Mitsubishi UFJ Financial Group And A Subsidiary Of The Mitsubishi Group. Formerly Known As Mitsubishi Bank, Ltd., Founded On August 25, 1919, And The Bank Of Tokyo, Ltd., A Bank With Foreign Exchange As Its Main Business, Was Established In 1946 By The Assets Of Yokohama Specie Bank, Which Was Forcibly Dissolved By The Allied Command-in-Chief (GHQ) In Japan.
UFJ BankUFJ Bank, Ltd. Was Established In 2002 By The Merger Of Sanwa Bank, Ltd. In Osaka And Tokai Bank, Ltd. In Nagoya. Due To The Merger Of Its Former Parent Company UFJ Holdings And Tokyo Mitsubishi Financial Group On October 1, 2005, It Became Part Of The "Mitsubishi UFJ Financial Group", The Largest Financial Institution Group In Japan.
History
- 1880 - The Mitsubishi Exchange Bureau Was Established Independently From The Mitsubishi Corporation Of The Post Steamboat (now Nippon Yusen).
- 1885 - The Mitsubishi Exchange Bureau Was Closed. All Staff Of The Office Were Redeployed To The 119th National Bank.
- 1895 - Establishment Of The Mitsubishi Joint Stock Company Banking Department, Inheriting All The Business Of The 119th National Bank.
- 1919 - Establishment Of Mitsubishi Bank, Ltd., Inheriting All The Business Of The Mitsubishi Joint Stock Company Banking Department.
- 1929 - Mitsubishi Bank Merges With Morimura Bank, Ltd.
- 1933 - The Thirty-fourth Bank, Ltd., Yamaguchi Bank, Ltd. And Konoike Bank, Ltd. Are Merged To Become Sanwa Bank, Ltd.
- 1940 - Mitsubishi Bank Merges With Kanehara Bank, Ltd.
- 1941 - Aichi Bank, Ltd., Nagoya Bank, Ltd. And Ito Bank, Ltd. Merge To Become Tokai Bank, Ltd.
- 1942 - Mitsubishi Bank Merges With Tokyo Nakano Bank, Ltd.
- 1942 - Sanwa Bank Merges With Hannan Bank.
- 1943 - Mitsubishi Bank Merges With The 100th Bank, Ltd.
- 1945 - Sanwa Bank Merged With Sanwa Trust Co., Ltd. And Daido Bank, Ltd.
- 1945 - Tokai Bank Merged With Okazaki Bank, Ltd., Inazawa Bank, Ltd. And Ono Bank, Ltd.
- 1945 - Sanwa Bank Merged With Owada Bank, Ltd.
- 1946 - Yokohama Specie Bank Established The Bank Of Tokyo, Ltd., A Subsidiary Of The Bank, And Transferred The Original Ordinary Banking Business To The Subsidiary.
- 1948 - The Name Of Mitsubishi Bank Was Changed For Some Reason, And The Word "Mitsubishi" Could Not Be Used And Was Changed To Chiyoda Bank.
- 1951-1952 - Some Branches Of Sanwa Bank In Southern Osaka Prefecture Were Ceded To Senshu Bank.
- 1953 - The Name Of Chiyoda Bank Was Changed Back To Mitsubishi Bank.
- 1954 - The Bank Of Tokyo Was Converted Into A Professional Foreign Exchange Transaction Bank Under The Foreign Exchange Bank Act Of Japan. Most Of The Branches In Japan Were Ceded To Dai-Ichi Bank, Mitsui Bank, Daiwa Bank And Other Banks.
- 1960 - Sanwa Bank Transferred Its Trust Department To Toyo Trust Bank, Ltd. (now Mitsubishi UFJ Trust And Banking Corporation).
- 1962 - Tokai Bank Transferred Its Trust Department To Central Trust Bank, Ltd. (now Chuo Mitsui Trust And Banking Company, Limited).
- 1967 - Mitsubishi Bank Established "Diamond Credit Co., Ltd.", Later Renamed DC Card, Now Mitsubishi UFJ Nicos Co., Ltd.
- 1968 - Tokai Bank Established "Million Card Service Co., Ltd.", Which Is Now Mitsubishi UFJ Nicos Co., Ltd.
- 1991 - Tokai Bank Merged With Sanwa Credit Union.
- 1992 - Sanwa Bank Merged With Toyo Credit Union.
- 1993 - Mitsubishi Bank Merged With The "Kasukabe Credit" Portfolio.
- 1995 - Tokai Bank Established Another Tokai Trust Bank.
- 1995 - Sanwa Bank Established Another Sanwa Trust Bank.
- 1995 - Osaka Credit Union Went Bankrupt. Tokai Bank Decided To Take Over All Business Except The Bad Debt Of Osaka Credit Union. It Accepted Its Business In 1997.
- 1996 - Mitsubishi Bank Merged With The Bank Of Tokyo To Become The Bank Of Tokyo-Mitsubishi, Ltd. 1999 - Toyo Trust Bank Merged With Sanwa Trust Bank.
- 2001 - The Bank Of Tokyo-Mitsubishi, Together With The Nippon Trust Bank And Mitsubishi Trust And Banking Corporation, Established Mitsubishi Tokyo Financial Group, Inc. (MTFG) Through A Share Transfer And Became A Full Subsidiary.
- 2002 - Sanwa Bank Merged With Tokai Bank To Become UFJ Bank, Ltd.
- 2004 - The Bank Of Tokyo-Mitsubishi Became The Issuing Bank Of DC Card, And Launched A Two-in-one Chip Financial Credit Card, And Pioneered A Financial Card With Palm Vein Recognition Function In Japan (the Issuance Of Such A Card Became The First In A Domestic Metropolitan Bank In Japan).
- 2005 - Mitsubishi Tokyo Financial Group And UFJ Holdings Merged To Form "Mitsubishi UFJ Financial Group, Inc." The Bank Of Tokyo-Mitsubishi And UFJ Bank Are Divided Into The Group's Subsidiaries.
- 2006 - The Bank Of Tokyo-Mitsubishi Merged With UFJ Bank To Become The Bank Of Tokyo-Mitsubishi UFJ, Ltd.
- June 30, 2007 - MUFG Bank (China), Ltd. Was Established.
- December 26, 2012 - MUFG Bank Invested About 5.80 Billion Hong Kong Dollars In A 20% Stake In VietinBank, The Second Largest Listed Bank In Vietnam.
- July 3, 2013 - MUFG Bank Has Decided To Acquire A 75% Stake In Bank Of Ayudhya Of Thailand For Up To 560 Billion Yen (US $5.61 Billion), And The Founder Ratanarak Family Has Agreed To Retain A 25% Stake In Bank Of Ayudhya.
- January 5, 2015 - MUFG Bank Bangkok Branch Officially Absorbed And Merged Bank Of Ayudhya Of Thailand On The 5th. This Is The First Time A Japanese Bank Has Included A Large Bank From Other Asian Countries, And The Combined Loan Balance Is The Fifth Largest In Thailand.
- January 15, 2016 - MUFG Bank Invested About 100 Billion Yen In Security Bank Of The Philippines, Acquiring A 20% Stake.
- April 1, 2018 - Due To Business Development Needs, MUFG Bank Was Renamed MUFG Bank.
