OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) today with Prime Bank limited (Prime Bank), a leading commercial bank in Bangladesh, with the purpose of supporting foreign companies entering Bangladesh.

Prime Bank, the second largest private commercial bank in Bangladesh, was established in 1995. Based in the capital city of Dhaka, Prime Bank provides comprehensive financial services include corporate and retail banking at its more than 130 branches across the country.

Bangladesh has a population of over 150 million. It is the eighth most populous country in the world. Bangladesh has achieved an average economic growth rate of approximately 6% annually for a decade led by exporting needlework and so on.

Many Japanese companies are keen to invest in Bangladesh. The number of Japanese corporates setting up business here has doubled over the last three years with 58 private entities that have established their business in Bangladesh (based on chamber of commerce data).

BTMU established its representative office at Dhaka in 1990. As the only Japanese bank in Bangladesh, BTMU supported our customers by providing local market research and intelligence.

Through this MOU collaboration, Prime Bank and BTMU aim to provide an enhanced range of services to meet the financial needs of its customers investing in Bangladesh.