ISTANBUL, July 16 (Reuters) - Bank of Tokyo-Mitsubishi UFJ (BTMU) will apply for a banking licence in Turkey in August to set up a Turkish unit, Shoji Nakano, BTMU’s head of Europe, Middle East and Africa said on Monday.
BTMU, a core banking unit of Mitsubishi UFJ Financial Group , Japan’s biggest banking group, will have a paid-in capital of $300 million and will be established in November 2012, starting to operate in October 2013, Nakano told reporters.
The bank will target Japanese firms in Turkey and is interested in project finance, mainly in energy and infrastructure, he said.
BTMU has been present in Turkey through a representative office since 1986. (Reporting by Ebru Tuncay, Writing by Seda Sezer)