Bank of Tokyo-Mitsubishi UFJ ties up with Prime Bank

The Bank of Tokyo-Mitsubishi UFJ has signed a memorandum of understanding with Prime Bank Ltd., a leading commercial bank in Bangladesh, for the purpose of supporting foreign companies entering Bangladesh, the mega bank said on Wednesday.

Prime BankBased in the capital city of Dhaka, Prime Bank the is the second-largest private commercial bank in Bangladesh and provides comprehensive financial services to corporate and retail clients at its more than 130 branches across the country.

Many Japanese companies are eager to invest in the South Asian country. The number of Japanese companies setting up business there has doubled over the last three years to 58 private entities, according to chamber of commerce data.

Bangladesh has a population of more than 150 million people and is the eighth most populous country in the world. Bangladesh has achieved an average economic growth rate of approximately 6 percent annually for a decade led by garment-industry exports.

– The Asahi Shimbun