Union Bank is all set to inaugurate a commercial branch in Houston, as part of its national development strategy designed to better serve existing commercial banking and energy clients, and to gain new customers in the region.
The lender said that its expansion in Texas and across the US has been driven by growing business needs of global clients.
The bank is already operating a branch in Texas market and the new branch will accept deposits from commercial customers and provides an array of corporate treasury services.
Union Bank president and chief executive officer Masashi Oka said Texas is fundamental to the banks’ nationwide growth plans, and Houston is central to a crucial sector of the global economy – energy, which Union Bank has been involved in for decades.
"It’s appropriate that we bolster our physical presence here as we deepen our energy-client relationships and extend our reach across the country," Oka added.
Union Bank’s global treasury management group senior executive vice president and head JoAnn Bourne said, "This new presence will add momentum to our current efforts with the energy industry in the Houston area and help us to meet our future growth targets for the large corporate markets."
Union Bank’s holding company, UnionBanCal Corporation, is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi, UFJ, (BTMU), which trades in 40 geographies across the globe.