BANKING & FINANCE - April 2, 1996
Times Staff and Wire Reports
Bank of Tokyo-Mitsubishi Becomes World’s Largest Bank: The merger of Bank of Tokyo Ltd. and Mitsubishi Bank Ltd. is official. The new Asian superbank will have the highest level of capital of any bank--$6.09 billion. And the merger will combine the two banks’ separate strengths to become the most global bank in Japan, where few institutions have both strong international and domestic presences. In California, the merger means the formal consolidation of Union Bank with BankCal Tri-State Corp. and its subsidiary, Bank of California. The new bank will be named Union Bank of California and will continue to be headquartered in San Francisco. With $27.5 billion in assets, UBOC will be the third-largest commercial bank in California.
