MUFG Bank mulls penalizing executives over theft by ex-employee

The head of MUFG Bank said Monday his bank is considering penalizing its executives, including himself, as he apologized over the alleged theft by a former employee of more than 1 billion yen ($6.5 million) from customers' safe deposit boxes."The incident shook the foundations of the banking business, which is built on trust," MUFG Bank President Junichi Hanzawa said at a press conference. "We will do our utmost to dispel the concerns of customers who use our safe deposit boxes."The press conference came after the revelation last month that the former employee, who was in charge of managing…READ FULL ARTICLE