Japan’s MUFG Bank has opened its first Global Services Operations Center (GSOC) in Manila. The aim is to improve productivity and efficiency of the bank’s international operations. The center will start operations in August and will initially perform foreign remittance and back office operations for the bank’s units in Singapore, Sydney, Auckland and Taipei. MUFG Bank has over 2000 offices in more than 50 countries. Kanetsugu Mike, president and CEO of the bank, said the bank is looking to add other units in Asia and ways to collaborate with our units in EMEA and the Americas. MUFG Bank, formerly known as the Bank of Tokyo-Mitsubishi UFJ, established a representative office in Manila in 1953, was granted offshore banking unit status in 1977, and a full banking license in 1995.