When you think of the big banks operating in Canada, MUFG Bank may not be top of mind, but for many businesses in this country, it plays an important role in their operations. And it’s a Mitsubishi-owned brand that celebrated its 70th year of operating in Canada in 2024. MUFG Bank is part of the Mitsubishi UFJ Financial Group, Inc., a Japanese bank holding and financial services company headquartered in Tokyo. It’s Japan’s largest financial group and one of the world's 10-lar- gest bank holding companies with approximately USD $1.5 trillion in deposits. MUFG is closely allied with the Mitsubishi Group, which consists of about 40 individ- ual companies without a controlling parent company. Each of the Mitsubishi companies owns substantial (but usually not controlling) portion of the shares of the others. Alongside Mitsubishi Corporation, of which Mitsubishi Motors is a part, MUFG and Mitsubishi Heavy Industries are known within the Group as the “Three Great Houses” (Gosanke). MUFG’s journey in Canada began in 1954 with the es- tablishment of a representative office for the Bank of Tokyo. Over the decades, the organization expanded its footprint and capabilities through strategic mer- gers. In 1996, the Bank of Tokyo merged with Mitsubishi Bank, creating a stronger international presence, including in the Canadian market. In 2006, a pivotal merger with UFJ Bank (a union of Sanwa Bank and Tokai Bank) led to the formation of The Bank of Tokyo-Mitsubishi UFJ. A decade later, the Canada office transitioned into a full branch, reflecting the significance of MUFG Canada's banking operations. During that same year, MUFG Canada Securities was launched to expand its capital markets activities in the country. In 2018, the bank officially changed its name to Mitsubishi UFJ Financial Group (MUFG).
From its humble beginnings to becoming a key cor- porate and investment banking player in the country’s financial sector, MUFG Canada has consistently dem- onstrated a commitment to excellence, innovation and collaboration. Over the years, the bank has sup- ported countless businesses and communities, con- tributing to economic growth and fostering long-last- ing relationships. To commemorate its 70th anniversary, MUFG Canada hosted a series of special events at the end of 2024, bringing together colleagues to honour the bank’s history and envision its future. Following this milestone, MUFG Canada looks forward to the future with optimism. The organization remains committed to delivering exceptional financial services in Canada, embracing innovation and supporting the communities it serves. The 70th anniversary celebra- tions were not only a tribute to the past, but also a springboard for continued success and growth. Mi
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