Bank of Tokyo-Mitsubishi UFJ opens retail branch in Hong Kong

Bank of Tokyo-Mitsubishi UFJ (BTMU) has opened its first retail
banking branch in Hong Kong because of dreary business outlooks in
its home market Japan.

A spokesperson for the bank told RBI that the growing wealth in
Hong Kong provided an attractive business outlook for the bank.

The spokesperson said that BTMU will target Hong Kong’s affluent
retail banking customers with financial assets worth at
least ¥30m ($359,106).

The Hong Kong branch, which launched on 20 December, offers
bank accounts as well as insurance policies and investment
trusts.

The bank added that it will consider expanding its banking
network to mainland China in the future.

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