Mitsubishi Tokyo Financial Group
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MTFG1088.jpg
MTFG1088.jpg
MTFG Plaza is home to the Mitsubishi Tokyo Financial Group.
Mitsubishi Tokyo Financial Group (三菱東京フィナンシャル・グループ; MTFG) is the second largest bank in Japan ranked by assets (an estimated $1 trillion), second only to Mizuho Bank.
The financial group consists of:
- The Bank of Tokyo-Mitsubishi, Ltd., formed in 1996 through the merger of the Bank of Tokyo with Mitsubishi Bank
- The Mitsubishi Trust and Banking Corporation
- Mitsubishi Securities Co., Ltd.
- UnionBanCal Corporation, holding company of Union Bank of California
MTFG is widely considered financially the strongest of Japan's large banks, with non-performing loans down to 2.9% of assets.
History
The financial group dates back to 1919, when the Mitsubishi Bank was founded to finance the Mitsubishi zaibatsu, most of which is today Mitsubishi Heavy Industries.
In July 2004, Japan's fourth-largest bank UFJ Bank offered to merge with MTFG; if approved, the merger would create the largest bank in the world.
Fall of 2004, early 2005: merger work continues.
External link
- Company website (http://www.mtfg.co.jp/) (in Japanese)
- Company website (http://www.mtfg.co.jp/english/index.html) (in English)ja:三菱東京フィナンシャル・グループ