Its traditional client base is made up of Japanese corporates, but overseas corporate lending increased 35% in the nine months to December 31, 2011. The bank has steadily increased its tier 1 capital ratios from 7.76% in 2009 to 13.04% as reported in February 2012, and its credit ratings have been unaffected by developments in Europe. Standard & Poor's assigned BTMU's most recent series of senior unsecured bonds an A-plus rating (as at February 2012).[2]