Japan

Juroku Bank and Ashikaga Bank opened a Hanoi and Bangkok unit.

He will head the team developing multinational client portfolios for 13 regional markets.

The bank aims to achieve a $2.7b asset balance in the next five years.

The move follows the exit of US from the nuclear agreement deal.

MUFG is the ninth largest bank globally with a tier 1 capital of $153.04b.

The bank aims to have around 280 financial advisers in the next three years.

Mizuho, MUFG Bank, and Sumitomo have agreed to unify QR code specifications.

The move aims to bring more Japanese SMEs to the country.

The topic being discussed most nowaday is “Opportunities and Challenges of Digital Transformation in Southeast Asia”. OECD-SEARP has been engaged in active discussions on policies to make digitalisation work for better lives and inclusive growth. Japan has actively lead those discussions. OECD has been working on a horizontal project to assess the potential and impact of digitalisation on various aspects of human lives. It is essential to recognise digital transformation as an opportunity, not as a problem.

MUFG is establishing a Riyadh subsidiary by October.

Lenders are running out of options to combat the ultra-low interest rate environment.

Seven lenders will take a stake of little over 14% in the JV.

The platform can process a million transactions per second.

The Manila office will assume operations from Singapore, Sydney and Taipei.

Intense Western competition is adding to the banking sector’s growing list of woes.

MUFG Bank will cut the branch numbers by 20% whilst Mizuho will close around 100 domestic locations.