Bank of Tokyo, located in Japan. Japan is a country that is very famous among many peoples in the world. Who is not familiar with the country of Japan, a country known for the term sunrise. Not only does it have many unique cultures, but on the other hand, it seems to have a resilient economy.
One of them is through evidence of the establishment of the Bank of Tokyo in Japan. As a state-owned national bank, it has many important roles for the Japanese government and its people.
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Bank of Tokyo
However, although the bank is quite well known to many Japanese people both at home and abroad, not many know about its history. Some people only ever know it but do not know the story behind the establishment of the bank. Including what stories develop during the bank.
Therefore, to provide information about it, this article will discuss some of the stories behind the history of the Bank of Tokyo. Without having to wait any longer, here is a little information about the establishment of the bank and the historical story that continues to the present day.
Establishment of Bank of Tokyo
The history of this bank began with the establishment of the bank for the first time in Japan. According to information derived from Wikipedia, apparently, the Bank of Tokyo was founded in 1946. The bank, also named Kabushiki Gaisha Tōkyō Ginkō, is also often referred to by the abbreviation BoT.
In the beginning, this bank was established as one of the financial institutions in charge of money markets. More precisely, this bank has the main purpose to carry out foreign exchange activities that take place in Japan. So that this can make it easier for Japanese residents and expatriates in Japan who want to invest in foreign exchange.
The Bank of Tokyo is also a successor to Yokohama Specie Bank. At the time the bank was established, all assets of Yokohama Specie Bank were indirectly transferred into part of the Bank of Tokyo’s assets. Furthermore, the bank is expanding by focusing only on foreign exchange, especially in its relations with China. This facilitating the process of buying and selling until payment from Japan to China through optimal currency exchange.
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Merged with Mitsubishi Bank
The position of the bank, which has its headquarters in Tokyo’s Nihonbashi district, is getting stronger year after year. Even in 1988 successfully developed wings in California, America. So this makes customer confidence becomes higher in the bank from Japan.
With the development and increasing strength, then in 1996, there was a merger with Mitsubishi Bank. So in that year, his name was also changed to The Bank of Tokyo Mitsubishi. Located right next to the Bank of Japan, the bank is also known by the abbreviation MUFG Bank.
Of course, the decision to merge with Mitsubishi Bank is considered an excellent decision. Because this increases customer confidence in the Bank of Tokyo and even increases the number of customers who are interested in investing in this bank.
Moreover, previously Mitsubishi Bank is known as the main bank that serves all financial transactions of the Mitsubishi group in Japan. So it clearly has high credibility and can be trusted.
Current Development of Bank of Tokyo
Currently, the condition of Bank of Tokyo – Mitsubishi Ltd. proved to be increasing sharply and even more widely. Even today the bank has a considerable total asset, which is recorded to reach up to 72 trillion yen. So as to be able to place the bank as one of the strongest banks on the stock exchanges Tokyo, Osaka, New York, Basel, Geneva, London, Paris, to Zurich.
It is not enough to get here, but it is also noted that the bank currently has more than 24,000 employees. The bank has more than 700 branches in Japan and more than 70 branches abroad.
The bank has branches in more than 40 countries around the world. So it is quite clear that this confirms the condition of the Bank of Tokyo as a bank that managed to survive and even become larger over time since its inception. With this significant development, of course, the number of customers from the bank is increasing.
In addition, currency exchange counters from the bank are also found in strategic places in Japan, including Narita International Airport. Even today the bank is also trusted by the Japanese government to issue some bonds for borrowing needs in the form of yen.
That’s interesting information related to the history of the Bank of Tokyo which is apparently quite long and interesting to follow. The history of the bank owned by the Government of Japan can be said to be tortuous and diverse. So, of course, it will be interesting knowledge when trying to find out more deeply about it.
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Now there is no need to hesitate if you meet the bank and invest with it. If you have the desire to open an account at a Japanese-owned bank, you should not need long consideration. Because it is quite clear that with the reputation and information above, the Bank of Tokyo is one of the best banks in the world that deserves to be an option.