MUFG Bank’s Manila branch receives universal bank license
Key Takeaways
- •The Bangko Sentral ng Pilipinas' Monetary Board approved MUFG Bank's request to upgrade its Manila branch from a commercial banking license to a universal banking license on May 21, 2026.
- •The BSP issued the branch's Certificate of Authority on June 5, and it began operating as a universal bank under the same corporate name on Sept. 1.
- •MUFG's Philippine operations date back to 1953, progressing from a representative office to offshore banking unit status in 1977 and a full banking license in 1995.
- •In 2016, MUFG Bank acquired a 20% stake in Security Bank Corp. to expand its regional presence and support companies entering the Philippines and other Asian markets.
- •As of end-March, the Manila branch was the 18th-largest bank in the Philippines' universal and commercial banking sector by assets, with P155.208 billion.
MUFG Bank, Ltd. – Manila Branch has begun operating as a universal bank after the Bangko Sentral ng Pilipinas (BSP) upgraded its commercial banking license.
In a circular letter dated Sept. 8, the BSP said its policy-making Monetary Board approved MUFG’s request on May 21. The central bank said: “The Monetary Board, in its Resolution No. 438 dated 21 May 2026, approved the request of MUFG Bank, Ltd. – Manila Branch (MUFGB) to upgrade its banking license from a commercial bank to a universal bank under the same corporate name.”
The BSP issued MUFGB’s Certificate of Authority to operate as a universal bank on June 5. The Manila branch began operating under the upgraded license on Sept. 1.
MUFG Bank is part of Japanese financial group Mitsubishi UFJ Financial Group. Its Philippine operations trace their roots to the representative office opened by its banking entity, Bank of Tokyo-Mitsubishi UFJ, in 1953.
The Manila operation was granted offshore banking unit status in 1977 before obtaining a license from the Philippine central bank in 1995. That license allowed it to conduct full banking operations in the country.
In 2016, MUFG Bank acquired a 20% stake in Security Bank Corp. as part of a partnership intended to expand the Japanese lender’s presence in the region and strengthen its support for companies entering the Philippines and other Asian markets.
As of end-March, MUFGB ranked as the 18th-largest bank in the Philippines’ universal and commercial banking sector by assets, with P155.208 billion.
— Katherine K. Chan
