Investment and Business Development Agency

menu

News

Bank of Tokyo-Mitsubishi UFJ opens a branch in Prague

The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU; President: Nobuo Kuroyanagi) announced the opening of a branch of its wholly owned subsidiary Bank of Tokyo-Mitsubishi UFJ (Holland) N.V. in the Czech capital, Prague.

24.04.2006

“The Czech Republic benefits from excellent access to Western European markets, has a consumer market of 10 million people and is a part of the region of Central and Eastern Europe where Japanese companies are actively increasing their presence. BTMU decided to open the Bank of Tokyo-Mitsubishi UFJ (Holland) N.V. Prague branch to enable it to provide diverse services in the region as a Japanese financial institution,” explained Prague Branch Manager Tetsuya Nakao.

The new branch will offer a wide range of services for corporate customers including deposit and financing, foreign exchange transactions in Czech crown, euros, U.S. dollars, Japanese yen and other currencies and cash management services.

BTMU is the only Japanese bank with a branch in Central and Eastern Europe
and to date has been serving customers in Poland through the Bank of Tokyo-Mitsubishi (Poland) S.A. and those in other parts of the region through the Bank of Tokyo-Mitsubishi (Holland) N.V. Vienna branch. The opening of the Prague branch now enables BTMU to provide significantly enhanced comprehensive financial services in Central and Eastern Europe.

"The Investment and Business Development Agency CzechInvest has for a long time been trying to attract a Japanese bank to the Czech Republic. One of the reasons for this is that Japan ranks second only behind Germany in greenfield investment projects (new manufacturing plants) assisted by CzechInvest. There aremore than 160 Japanese companies registered in the Czech Republic, 75 of which are manufacturers. Already established Czech branches of Japanese companies are to eventually employ more than 32,000 Czech people", said Tomas Hruda, CEO of CzechInvest, commenting on the news.

In the end it is the Bank of Tokyo-Mitsubishi UFJ, the world’s largest banking house asset-wise, that decided to come to the Czech Republic and is opening a branch office here. It is only their second branch office opened in the whole region of Central and Eastern Europe. The move by BTMU can be seen as the clear positive signal to many Japanese but also other future foreign investors into the Czech Republic,” added Josef Lebl, Adviser to the CEO of CzechInvest.


Overview of the new branch

Name: Bank of Tokyo-Mitsubishi UFJ (Holland) N.V. Prague branch
Address:Klicperova 3208/12, 150 00 Prague 5, Czech Republic
Contacts:Phone: 420-257-257-911; Fax: 420-257-257-999
Total staff:8
Representative:Tetsuya Nakao (Branch Manager)
Scope of business: Comprehensive commercial banking services
Opening date:24 April 2006


CONTACT:

The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Public Relations Division
Phone: 03-3240-2950