The Bank of Tokyo-Mitsubishi plans to make 1 trillion yen in new loans to corporate and individual customers by March 2005, bank officials said Thursday.
Like other major Japanese banks, Tokyo-Mitsubishi has been reducing lending. However, it is changing that policy in the belief it has fixed its bad-loan problems, they said.
The bank, the main unit of Mitsubishi Tokyo Financial Group Inc., will select 30,000 companies deemed creditworthy, of which several thousand will be new clients, and offer them new loans, they said.