MUFG and State Bank of India Form Strategic Partnership
Tokyo-headquartered Mitsubishi UFJ Financial Group will look to deepen Japan-India ties through a new strategic partnership.
Mitsubishi UFJ Financial Group (MUFG) Bank has entered a strategic partnership with State Bank of India (SBI), according to a statement. The tie-up will look to support the growth of Japanese companies expanding in India, as well as Indian companies seeking to expand into Japan and other global markets, by combining SBI’s domestic network with MUFG’s global network and expertise in cross-border finance.
For MUFG, India is one of the most important markets globally and it has had a presence in the country since the 1894 opening of a branch in Mumbai, then known as Bombay, through the former Yokohama Specie Bank. Today, it covers the market through six locations, providing full banking services mainly for corporate clients, including deposits, loans, and domestic and FX transactions.
SBI is India’s largest commercial commercial bank with more 23,000 branches and total assets of 71.6 trillion Indian rupees ($770 billion), as of December 2025.
