The Mitsubishi Bank ( 株式会社三菱銀行 , Kabushiki gaisha Mitsubishi Ginkō ) was a major Japanese bank headquartered in Tokyo , founded in 1880. For much of the 20th century it was one of the largest Japanese banks, together with Dai-Ichi Bank , Mitsui Bank , Sumitomo Bank , and Yasuda / Fuji Bank . It served as the main bank for the Mitsubishi conglomerate. In 1948, the Mitsubishi conglomerate was dismantled and the bank was renamed Chiyoda Bank ( 千代田銀行 , Chiyoda Ginkō ) after the Chiyoda district in Tokyo, then reverted to the Mitsubishi name in 1953.
14-916: Mitsubishi Bank merged with the Bank of Tokyo in 1996 to form Bank of Tokyo-Mitsubishi , a predecessor of Mitsubishi UFJ Financial Group . The bank's operations date to 1880, when Mitsubishi group founder Yataro Iwasaki established the Mitsubishi Exchange House ( 三菱為替店 , Mitsubishi Kawaseten ) in Tokyo. Mitsubishi acquired the business of the Tokyo, Oita and Hakodate-based 119th National Bank in 1885, and spun this business off to an independent Mitsubishi Bank in 1919. The bank opened branches in London and New York in 1920. By 1929, Mitsubishi Bank had only 3 offices outside of Japan and its colonies, less than Mitsui bank or Sumitomo Bank and much less than
28-556: A merger, which would have led to a major regrouping in the bank-led keiretsu system of the era. But the plan met opposition among Dai-Ichi's management and its customers in the Furukawa and Kawasaki groups, who feared that Mitsubishi would dominate the combined bank and that their businesses would be absorbed by the relatively strong Mitsubishi group. As a result, the merger was called off. Two years later, Dai-Ichi merged with Nippon Kangyo Bank to form Dai-Ichi Kangyo Bank . Mitsubishi
42-610: The Bank of Tokyo merged. In San Francisco, the Bank of California merged into Union Bank, N.A., and the merged entity, Union Bank of California, N.A. became a direct subsidiary of the bank holding company , UnionBanCal Corporation. In 1999, UnionBanCal Corporation became a public company listed on the New York Stock Exchange . In August 2008, Mitsubishi UFJ offered to buy the 35% of Union Bank it did not already own, which Union Bank accepted. On November 4, 2008,
56-537: The Long-Term Credit Bank of Japan , Nippon Credit Bank and Norinchukin Bank , BOT was permitted to issue special bonds to obtain yen funding; BTM continued this program for several years after the Tokyo-Mitsubishi merger. The "BOT" abbreviation is still used by BOT Lease, a Mitsubishi UFJ Financial Group leasing company established by BOT in 1979. MUFG Union Bank Union Bank
70-638: The Yokohama Specie Bank , Bank of Chōsen and Bank of Taiwan , for which foreign trade was part of a public-interest mandate under special legislation. During World War II, Mitsubishi Bank was a financier of Japanese interests in Manchuria through its branch in Dalian , opened in 1933. Its London and New York offices closed during the war, but reopened in 1953. In 1969, Mitsubishi and Dai-Ichi Bank , Japan's oldest bank, began preparations for
84-439: The Bank of Tokyo-Mitsubishi UFJ (BTMU), a wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), announced that BTMU had successfully acquired all of the outstanding shares of UnionBanCal Corporation. In 2014, MUFG integrated the U.S. operations of its subsidiary The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) with those of San Francisco–based Union Bank, N.A. In April 2018, the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)
98-498: The postwar era. BOT had major operations in New York and London, and developed an early system to settle payments between Japanese yen and Chinese yuan during a time when direct foreign exchange was not possible. Due to the peculiarly international nature of its business, BOT was the only Japanese bank that employed more foreigners than Japanese, and it had large overseas operations and a large number of non-Japanese customers. BOT
112-738: Was an American national bank with 398 branches in California , Washington , and Oregon . It was owned by MUFG Americas Holdings Corporation and was acquired by U.S. Bancorp in December 2022. It was headquartered in New York City and had commercial branches in Dallas , Houston , New York City , and Chicago , and two international offices. In 1914, Kaspare Cohn founded Kaspare Cohn Commercial & Savings Bank in Los Angeles . It
126-754: Was known as a very conservative lender and was one of the few Japanese banks to emerge from the Japanese asset price bubble relatively unscathed. It acquired the Nippon Trust Bank in 1994. In 1996, it combined with The Bank of Tokyo to form The Bank of Tokyo-Mitsubishi . In addition to its home country of Japan, Mitsubishi was also active in California, where it began banking operations in 1972 through Mitsubishi Bank of California. Mitsubishi Bank acquired Bank of California in 1984, which later merged with Bank of Tokyo-controlled Union Bank to form what
140-481: Was later known as MUFG Union Bank . Bank of Tokyo The Bank of Tokyo, Ltd. ( 株式会社東京銀行 , Kabushiki gaisha Tōkyō Ginkō , BOT ) was a Japanese foreign exchange bank that operated from 1946 to 1996. In January 1996, it merged with Mitsubishi Bank to form The Bank of Tokyo-Mitsubishi (now MUFG Bank ). Its headquarters was in the Nihonbashi district of Tokyo, adjacent to the Bank of Japan . BOT
154-643: Was particularly active in California from around 1953. It acquired a controlling stake in San Diego–based Southern California First National Bank in 1975 and later renamed it California First Bank. In 1988, California First acquired Union Bancorp to form Union Bank (now MUFG Union Bank ), one of the largest banks in California. BOT historically operated the foreign exchange counters at Japan's international airports, including Haneda Airport and Narita International Airport , which remain under operation by its successor BTMU. Like
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#1732781107705168-788: Was renamed Union Bank & Trust Company of Los Angeles in 1918. Harry Volk was recruited from Prudential Insurance Company as the bank's new CEO in 1957 and pioneered the use of the one-bank holding company, among other banking innovations. Volk retired in 1980 after the purchase of the bank by London-based Standard Chartered Bank in 1979. The Bank of Tokyo established the Bank of Tokyo California in 1953 in San Francisco . In 1975, Bank of Tokyo California purchased San Diego's Southern California First National Bank, shortening its name to California First. Four years later Bank of Tokyo California, via California First, took over Union Bank and adopted its name. In May 1996, Mitsubishi Bank and
182-650: Was renamed to MUFG Bank, Ltd. When it was called MUFG UnionBank, it was a subsidiary of intermediate holding company , MUFG Americas Holdings Corporation, and a member of the Mitsubishi UFJ Financial Group . In December 2022, the bank was acquired by U.S. Bancorp for $ 8 billion. On October 19, 2004, the Federal Reserve Board announced that Union Bank had entered into a written agreement to avoid criminal prosecution for money laundering . Three years later, Union Bank
196-602: Was the successor to the Yokohama Specie Bank , a state-chartered foreign exchange bank, and initially operated as an ordinary bank using the YSB's assets. In 1954 it became registered as a specialized foreign exchange bank, and closed all of its business unrelated to foreign trade. BOT became a close partner of the Ministry of Finance and the Japan Bank for International Cooperation in directing Japan's foreign trade policy during
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