OREANDA-NEWS. ZAO Bank of Tokyo-Mitsubishi UFJ (Eurasia), a subsidiary of Bank of Tokyo-Mitsubishi UFJ, Ltd. (“BTMU”), upgraded its Saint-Petersburg Representative Office to a ‘Sub-Branch’.

Saint-Petersburg is the second largest city in the west part of Russia where the automotive and auto-parts industry has flourished due to the important geographic position of rail networks and international sea routes.

Further economic growth is expected as companies affiliated with the automotive industry, such as auto parts suppliers and distributors, are very interested in expanding their businesses in Russia.

BTMU was the first Japanese bank to enter the country in 1992 and we have steadily expanded our business activities in Russia since then. The opening of the ZAO Bank of Tokyo-Mitsubishi UFJ (Eurasia) in Moscow in November 2006, the Saint-Petersburg Representative Office in April 2008 and the Vladivostok Sub-Branch in September 2012, mark key milestones in our expansion into Russia.

Through upgrading our Saint-Petersburg Representative Office to ‘Sub-Branch’ and with the assistance of our resident dedicated team of Japanese and locally hired staff, we will continue to strengthen our suite of products and services to support our customers’ diverse and growing financial needs, and underpin our commitment to providing enhanced financial services to our customers globally.