MUFG Bank Canada celebrates 70 years of legacy and growth
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-largest bank holding companies with approximately USD $1.5 trillion in deposits. MUFG is closely allied with the Mitsubishi Group, which consists of about 40 individual companies without a controlling parent company. Each of the Mitsubishi companies owns a 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 establishment of a representative office for the Bank of Tokyo. Over the decades, the organization expanded its footprint and capabilities through strategic mergers. 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 corporate and investment banking player in the country’s financial sector, MUFG Canada has consistently demonstrated a commitment to excellence, innovation and collaboration. Over the years, the bank has supported countless businesses and communities, contributing to economic growth and fostering long-lasting relationships.