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Japanese bank Mitsubishi UFJ Financial Group to stay in Russia

October 12, 2014, 2:16 UTC+3 WASHINGTON

The Japanese company has an affiliate in Russian capital Moscow and an office in the city of St. Petersburg

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WASHINGTON, October 12. /TASS/. Japanese bank holding company Mitsubishi UFJ Financial Group, one of the largest banks in Japan and the whole world, intends firmly to continue its operation in Russia, this bank’s President and CEO Noboyuki Hirano told TASS on Saturday at a conference which the Institute of International Finance, main lobbyist organisation of global private banking and financial business, organised in Washington D.C.

Meanwhile, he warned that in current conditions when the West had imposed sanctions on Russia amid the current crisis in Ukraine his company’s possibilities to develop Russian segment of business were limited.

This was earlier stated at the forum that sanctions had put up not only obstacles, but also favourable possibilities for investment. But in reply to such suggestion Hirano just said, “We need to comply with all the regulatory requirements. It's such a multi-faceted regulatory regime that's imposed on us.”

The Japanese company has an affiliate in Russian capital Moscow and an office in the city of St. Petersburg, the bank’s president said. “Certainly we'll stay there....,” Hirano said, naming the whole scope of leading Japanese industrial concerns currently operating in Russia. He added that the bank would keep working with Russian clients.

“We have nothing we can do except to maintain business as usual /as much/ as possible,” the Japanese financier said, noting that “But we cannot develop our business as we expected.

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