Mitsubishi Tokyo Financial Group Inc. and UFJ Holdings Inc. plan to name the new commercial bank to be created by their Oct. 1 merger the Bank of Tokyo-Mitsubishi UFJ, banking sources said Wednesday.
The two financial groups wanted to delete the word “Tokyo” to shorten the name, but kept it in anyway out of consideration of those who originally belonged to the Bank of Tokyo and the city’s high recognition overseas, the sources said.
The two groups will formally announce the name of the new lender by the end of the month, they said. The name is the same as the one they tentatively released in August.
In talks about the name, some were concerned that customers in central and western Japan might feel unfamiliar with the bank if it retained the word Tokyo, the sources said.
The two groups had studied the possibility of keeping Tokyo in the English name and excluding it from the Japanese, but ended up leaving it in both, the sources said.
The Bank of Tokyo merged with Mitsubishi Bank in April 1996 to create the Bank of Tokyo-Mitsubishi.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.