MUFG inks strategic partnership with the State Bank of India

They will help Japanese and Indian companies expand in India and globally.

MUFG Bank has signed a strategic partnership agreement with the State Bank of India (SBI).

The partnership sees MUFG team up with India’s largest commercial bank to support the growth of Japanese companies expanding in India, and Indian companies expanding into Japan and other global markets, MUFG said in a 12 March 2026 press release.

SBI has total assets of approximately $775.23b (INR71.6t or JPY124.5t) as of December 2025.

India is one of the most important markets globally and is expected to become the world’s third largest economy by 2030, MUFG said.

MUFG currently has six locations in India. It made an investment in Shriram Finance last December.

(US$1 = INR92.36)