World's Largest Bank Debuts in Japan

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00018010-worlds-largest-bank-debuts-in-japan/

The Bank of Tokyo-Mitsubishi UFJ made its belated debut Sunday from the merger of the Bank of Tokyo-Mitsubishi and UFJ Bank, after computer trouble forced the banks to delay integration by three months.

Mitsubishi UFJ Financial Group, the world’s largest by assets at around 190 trillion yen, ($1.6 trillion), posted strong earnings results in November due to lower bad-loan write-off costs, and said it expected to post a group net profit of 520 billion yen ($4.4 billion) for the fiscal year through March 31, 2006.

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