Mitsubishi UFJ

About Mitsubishi UFJ

The largest bank in Japan and one of the largest in the world, with over 3 trillion in assets. Formed from the 2005 merger of Bank of Tokyo-Mitsubishi and UFJ Bank. The banks origins trace to the Yokohama Specie Bank founded in 1880 and the Mitsubishi Bank founded in 1880. Mitsubishi UFJ acquired Union Bank of California and the retail banking arm of HSBC in the US. The bank is part of the Mitsubishi keiretsu, a network of companies with cross shareholdings. Japanese megabanks like MUFG weathered the 2008 crisis better than Western banks because they held fewer toxic assets and had more conservative lending practices.