Japan banking giants MUFG and SMBC to start sharing ATMs in September
MUFG Bank and Sumitomo Mitsui Banking Corp. have announced they will make ATMs outside their branches available to each other's customers from Sept. 22. Customers of each bank will be able to withdraw cash from either kind of ATM for free during the daytime on ...
MUFG on track to be Japan's first yuan clearing bank after expected Abe-Xi deal at Osaka G20
MUFG Bank is expected to become the first Japanese bank to be designated as a yuan clearing bank, sources said Wednesday. Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping are likely to reach an agreement on MUFG's designation when they meet in the ...
MUFG, Japan's biggest bank, offers redundancy to hundreds of managers in London
Mitsubishi UFJ Financial Group Inc. is preparing major job cuts in London, another sign of the deepening troubles Japanese banks face at their overseas operations. MUFG, Japan's largest lender, is offering voluntary redundancy packages to about 500 directors and managing directors in London, according to ...
New accounts at MUFG to go digital by default as bank seeks to wean customers off passbooks
Major lender MUFG Bank will no longer issue paper passbooks from June to most customers who open new deposit accounts over the counter, sources said Thursday. The move is aimed at promoting the use of online banking services. MUFG Bank also aims to reduce costs, ...
Sumitomo Mitsui Financial increases planned cuts, to the equivalent of 5,000 employees' workload
Sumitomo Mitsui Financial Group Inc. will increase planned cuts to its head count that will now reduce work done by the equivalent of nearly 5,000 employees over the three years to March 2020, it was learned Wednesday. Cuts reducing head count by the equivalent of ...
Mizuho to tighten rules on lending to coal-fired power plants in line with other Japan banks
Mizuho Financial Group Inc. said Wednesday that it will tighten lending standards for coal-fired power plants with high emissions of carbon dioxide, as part of its efforts to combat climate change. Mizuho will also provide discussion and consulting services for clients who want to "decarbonize," ...
MUFG president tells investors of bank's plans to shutter 80 more outlets in Japan
Mitsubishi UFJ Financial Group Inc. President Kanetsugu Mike said core unit MUFG Bank will scrap about 80 more branches in Japan in a bid to further cut costs and improve earnings. He announced the plan at a meeting Monday with investors. Previously, the bank planned ...
Nomura's retreat again highlights how Japan's banking behemoths struggle to succeed abroad
Time and again since Japan emerged as a global economic force, its financial leaders have hatched plans to translate their influence into investment-banking clout. Time and again, they've failed. The retreat sounded last month by Nomura Holdings Inc. marks just the latest overseas flop, prompting ...
EU fines Japan's MUFG and four U.S. and British banks €1.07 billion over forex cartel
The European Union on Thursday fined MUFG Bank and four major British and U.S. banks a total of €1.07 billion (¥131 billion; $1.2 billion) for rigging the spot foreign exchange market for 11 currencies. The European Commission, the executive organ of the European Union, found ...
Japan's mega-banks see challenging year ahead as profit drivers wane
Japan's biggest banks have warned investors of a tough year ahead. The nation's three mega-banks have been relying on the healthy status of borrowers and sales of so-called cross-shareholdings for earnings as rock-bottom interest rates crimp lending profitability. Results on Wednesday showed they are losing ...
Major engineering firm Chiyoda announces ¥180 billion bailout from Mitsubishi and MUFG Bank
Chiyoda Corp., one of the world's leading builders of liquefied natural gas plants, said Thursday it will receive a total of ¥180 billion from trading house Mitsubishi Corp. and MUFG Bank to turn around its finances. Under a reconstruction plan, Chiyoda will get a capital ...
Happy hour is over: MUFJ bank executive takes aim at Japan's 'nominication' drinking culture
It's time to stop drinking with the boss after work. That's the message of Mitsubishi UFJ Financial Group Inc. banking unit executive Saiko Nanri, who wants to change Japan's long-standing culture of drinks between managers and employees. Companies have long encouraged such parties to give workers ...
