The Bank of Tokyo
| Company type | Public |
|---|---|
| Industry | Banking, Financial services |
| Predecessor | Yokohama Specie Bank |
| Founded | 1946 |
| Defunct | 1996 |
| Fate | Merged with Mitsubishi Bank to form The Bank of Tokyo-Mitsubishi |
| Headquarters | Tokyo , Japan |
Area served | Japan, United States, United Kingdom, China, and other international locations |
| Products | Foreign exchange banking, foreign trade services |
The Bank of Tokyo was a Japanese institution specializing in foreign exchange banking, active from 1946 until its 1996 merger. In January of that year, it combined with Mitsubishi Bank, creating The Bank of Tokyo-Mitsubishi, which is currently known as MUFG Bank. Its main office was located in Tokyo’s Nihonbashi area, situated near the Bank of Japan.
BOT originated as the successor to the Yokohama Specie Bank, a government-chartered foreign exchange bank. Initially, BOT operated as a conventional bank utilizing YSB’s assets. By 1954, it re-registered as a dedicated foreign exchange bank and discontinued all non-foreign trade services. The bank worked closely with the Ministry of Finance and the Japan Bank for International Cooperation to shape Japan’s postwar foreign trade strategies. It maintained significant branches in financial hubs such as New York and London and pioneered an early mechanism for settling transactions between the Japanese yen and Chinese yuan during periods when direct currency exchange channels were unavailable.
With its strong international orientation, BOT was distinct in employing a higher proportion of foreign nationals than domestic staff and managing widespread overseas operations serving numerous non-Japanese customers. Its presence in California dates back to approximately 1953, culminating in the 1975 acquisition of a controlling interest in Southern California First National Bank, which was subsequently rebranded as California First Bank. In 1988, California First merged with Union Bancorp to establish Union Bank (now part of MUFG Union Bank), ranking among California’s largest banking institutions.
Historically, BOT operated foreign exchange booths at Japan’s major international airports including Haneda Airport and Narita International Airport, a service continued by its successor, BTMU. Similar to other leading Japanese banks, BOT held authorization to issue special bonds for raising yen capital; this program remained in place following the Tokyo-Mitsubishi consolidation.
The acronym "BOT" persists today through BOT Lease, a leasing subsidiary under Mitsubishi UFJ Financial Group, originally established by BOT in 1979.