Leading Japanese bank to apply for banking license in Turkey

Posted on 24 July 2012

Istanbul, 18 July 2012 – Bank of Tokyo – Mitsubishi UFJ, Japan’s largest bank, has announced its intention to apply for a banking license in Turkey to assist Japanese companies with finance allowing them to take part in Turkey’s large scale investment projects. The bank will file an application with a capital investment of 300 million USD to the Banking Regulation and Supervision Agency (BDDK) ofTurkeynext month. Shoji Nakano, the Managing Executive Officer of the bank said “Turkey’s growing economy, key geographical location and young population presents an excellent investment hub for Japanese companies. BTMU already supports many Japanese companies operating in Turkey and plans increasing its exposure to USD 5 billion in 3 to 5 years as its business grows inTurkey”. Mizuho Corporate Bank, another leading Japanese bank, also opened a representative office in Turkey in June. Source: Invest in Turkey

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