Bank of Tokyo-Mitsubishi UFJ announced on Thursday that it has set up business operations in Colombo, Sri Lanka, becoming the first Japanese bank to be granted approval to open an office in Sri Lanka. The move comes as Japan is looking for ways to expand its presence overseas and boost economic ties with Southeast Asian countries.
Bank of Tokyo-Mitsubishi UFJ announced on Thursday that it has set up business operations in Colombo, Sri Lanka, becoming the first Japanese bank to be granted approval to open an office in Sri Lanka. This marks a continuation of the attempts by Japanese banks to expand beyond their crowded domestic markets.