Tokyo, Sept. 24 (Jiji Press)–Mitsubishi UFJ Financial Group Inc. said Thursday that its subsidiary preparing to launch a digital bank has received a banking license, with operations expected to begin between January and March 2027. MU Digital Bank Establishment Preparation Co. received the license from the Financial Services Agency under the banking law, and the company changed its corporate name to MUFG Emut Bank. The digital bank will play a central role in the banking group’s Emut financial services for individual customers. The bank’s services will be offered under the name Emut Bank, with details to be announced later. Financial Services Minister Satsuki Katayama said, “I expect the bank to provide highly convenient financial services,” as the agency handed over the license. Unlike online-only banks, Emut Bank will be able to use MUFG Bank’s branch network and other resources. It aims to attract individual deposits by providing services tailored to each customer. END [Copyright The Jiji Press, Ltd.]
