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January 5, 2006
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Thursday
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Zilhaj 4, 1426
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Biggest bank
TOKYO, Jan 4: The Bank of Tokyo-Mitsubishi UFJ, the world’s largest bank, officially opened for business in Japan on Wednesday after a three-month delay caused by difficulties integrating computer systems.
The two banks’ holding companies, Mitsubishi Tokyo Financial Group Inc and UFJ Holdings Inc, had merged on October 1 to create Mitsubishi UFJ Financial Group Inc (MUFG), the world’s largest financial group by assets.
The creation of MUFG reduced to three the number of Japan’s major banking groups, with the other two being Mizuho Financial Group Inc and Sumitomo Mitsui Financial Group Inc.—AFP
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