October 22, 2013
The Bank of Mongolia (BoM) has allowed the Bank of Tokyo Mitsubishi UFJ Ltd (BTMU) to open its representative office in Ulaanbaatar.
A preparation to this measure began last year when the Japanese side, having decided to open their representation, carried out feasibility studies and submitted application materials to the BoM last May. Since the related law allows, the BoM president issued an order on giving an official permission to the BTMU.
The BTMU is the largest bank in Japan, founded in 2006 with the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. The bank serves as the core retail and commercial banking arm of the Mitsubishi UFJ Financial Group.
The bank’s headquarters is located in Marunouchi, Chiyoda, Tokyo, with 772 other offices in Japan and 76 offices overseas.