Japan’s largest Bank, The Bank of Tokyo-Mitsubishi UFJ Ltd., has been renamed and rebranded as MUFG Bank Ltd in Pakistan.
According to SBP circular:
SBP is pleased to notify that the name of “The Bank of Tokyo-Mitsubishi UFJ, Ltd.” will be changed to “MUFG Bank Ltd.” with effect from June 01, 2018.
The name of the bank has been changed globally and now ultimately its name has been changed in Pakistan. The new name aligns with the MUFG Group brand and also reflects the significant steps the group has taken to provide its customers with a broader and more integrated range of financial services.
The bank has a presence in Pakistan dating back to 1925. It has maintained full commercial banking operations in Pakistan since opening an offshore branch in Karachi.
As the only Japanese bank in Pakistan, MUFG Bank has experienced significant growth and established itself as one of the most respected international banks in the local market.
The bank maintains an alliance with the Board of Investment (the Prime Minister’s office in Pakistan), further enhancing its position as a trusted banking partner for Japanese, Pakistani and multinational corporates within the country.
The bank provides full-fledged commercial banking services including provision of loans in domestic and foreign currency, trade financing, domestic and overseas remittances, various import and export services, and pooling/ARPS, spot & forward foreign exchanges, currency options and swaps, and current and saving accounts.