The banking sector in Japan has been stuck in a rut for several years, with little currently happening to galvanise it into action. The Banker’s Top 1000 World Bank Rankings 2023 showed the country’s banks have continued to see a decline in their Tier 1 capital in the year to March 2023, with all but one of the 82 in the ranking suffering a drop.
Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank, is in 14th place in the Top 1000 ranking with $111.3bn in Tier 1 capital, an 11.93% decline on the previous year. Until last year, the bank had ranked within the top 10 overall and at its peak in the 2018 ranking, it reported $153bn in Tier 1 capital.
