Mitsubishi Bank
The Mitsubishi Bank, Ltd. (株式会社三菱銀行, Kabushiki gaisha Mitsubishi Ginkō) was a major Japanese bank that served as the main bank for the Mitsubishi conglomerate/keiretsu. It merged with The Bank of Tokyo in 1996 to form The Bank of Tokyo-Mitsubishi (now MUFG Bank).
The bank's operations date to 1880, when Mitsubishi group founder
In 1948, the Mitsubishi conglomerate was dismantled and the bank was renamed Chiyoda Bank (千代田銀行, Chiyoda Ginkō) after the district of the same name in Tokyo. The bank reverted to the Mitsubishi name in 1953 and re-opened its London and New York offices. It became a major financier of the regrouped Mitsubishi keiretsu in the following years.[2]
Mitsubishi and
Mitsubishi was known as a very conservative lender and was one of the few Japanese banks to emerge from the Japanese asset price bubble relatively unscathed. It acquired the Nippon Trust Bank in 1994.[2] In 1996, it combined with The Bank of Tokyo to form The Bank of Tokyo-Mitsubishi (now MUFG Bank).
In addition to its home country of Japan, Mitsubishi was also active in California, where it began banking operations in 1972 through Mitsubishi Bank of California.[2] Mitsubishi acquired Bank of California in 1984, which later merged with Bank of Tokyo-controlled Union Bank to form what is now known as MUFG Union Bank.[4]
Notable alumni
- Zentaro Kosaka, politician and Japanese foreign minister
- Makoto Usami, Bank of Japan president
References
- ^ "The Origins of Our Bank". MUFG Bank. Retrieved 10 April 2015.
- ^ a b c d "Bank of Tokyo-Mitsubishi Ltd. History". International Directory of Company Histories, Vol. 15. St. James Press, 1996. Retrieved 10 April 2015.
- ISBN 9781136910135. Retrieved 10 April 2015.
- ^ "Union Bank's History". MUFG Union Bank. Archived from the original on 17 April 2015. Retrieved 10 April 2015.