The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU, CEO Nobuyuki Hirano) is pleased to announce plans to establish Bank of Tokyo-Mitsubishi UFJ Turkey Anonim Şirketi*, a wholly owned subsidiary in Istanbul, the Republic of Turkey, subject to regulatory approval.
Located at a central point between Europe, Asia, the Middle East and North Africa, BTMU believes Turkey to be of significant geopolitical importance. In terms of growth, the country ranks second only to China among G20 countries, with a reported real GDP growth rate of 8.5% in 2011. In 2013, Turkey’s GDP growth rate is expected to be in excess of 4.0%, fuelled by both the consumer power of its population, which is made up of almost 75 million people with a median age of 29, and the abundant work force it
provides.
BTMU has been present in Turkey through a representative office since 1986. With the establishment of a wholly-owned local subsidiary the bank intends to strengthen its existing business there and provide a variety of financial services in its capacity as a Japanese financial institution.
BTMU is committed to providing its customers in Turkey with a broader range of financial services and supporting its customers’ business expansion in the country.