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BTMU forms business alliance with Poland's BGK
Jul 19, 2013

Tokyo, July 1st 2013 - The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) (President: Nobuyuki Hirano) is pleased to announce that BTMU together with its Polish subsidiary, Bank of Tokyo-Mitsubishi UFJ (Polska) SA (BTMUP) entered into a memorandum of understanding with Bank Gospodarstwa Krajowego SA (BGK) on June 25th, 2013.

BGK is a state development bank – a unique and wholly state-owned bank in Poland, involved in financing and supporting governmental programs, including the recently announced “Inwestycje Polskie” (Poland’s New Investment Program). Poland’s energy industry, gas and other hydrocarbons mining, transportation and infrastructure sectors require significant investment in order to achieve the level of other European Union countries’ activities. The Polish government has launched this program to cope with the growing financing needs of these sectors. BGK is the key debt financing pillar of the program and it also plays an instrumental role in many other governmental projects.

Poland is the largest country in Central and Eastern Europe and it has the 6th largest population among all European Union member states. Poland has strong and solid economy; avoiding recession between 2008- 2009 and achieving uninterrupted economic growth since 1992.

BTMU has been present in Poland since 2002, when it established its Polish subsidiary BTMUP, and is the only Japanese commercial bank in Poland. The signing of the MOU between BTMU and BGK will contribute to the promotion of Polish energy, infrastructure and other investment projects among Japanese companies. Both banks welcome the support of BTMU’s valued customers who may be considering investments in Poland.

 

Re-disseminated by The Asian Banker

Categories: Transaction Banking
Keywords: BTMU, BGK



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