Tokyo, November 26th 2012 – The Bank of Tokyo-Mitsubishi UFJ, Ltd. (“BTMU”) (President: Nobuyuki Hirano) has received an approval for opening a new branch in Bangalore from the Reserve Bank of India. In anticipation of obtaining an approval from the Financial Services Agency of Japan, BTMU sets out to prepare for opening of the new branch.

Bangalore is the capital of Karnataka, a state in southwest region of India, and is also a driver of economic growth in South India along with Chennai. Historically, it has been a center of Indian aerospace industry. Meanwhile, a rapid development of IT industry has been observed in recent years. In addition, many Japanese companies in automobile industry have been investing in Bangalore which is expected to be one of their focused areas in India, attracting further investments.

Since opening its first branch in India in 1953, BTMU has been making every effort to serve its customers in India for approximately 60 years. With the opening of Bangalore Branch, BTMU will have five offices in India including Neemrana Branch which opened on November 19, 2012 (other three are branches in New Delhi, Mumbai, and Chennai). We will continue to fully leverage this network and further enhance our financial services to respond to the needs of our customers operating in India. 

Re-disseminated by The Asian Banker