INSIGHTS
Japan's biggest bank Mitsubishi UFJ Financial Group is mulling acquisitions in the Philippines and Indonesia to expand its overseas business. "If we have to choose a couple of countries in Asia, I would say I would really seriously consider the opportunities in Indonesia and the Philippines," said Mitsubishi UFJ de
Japan's biggest bank eyes acquisitions in Philippine and Indonesia
Date: 2014/03/13
Source: Bloomberg
Japan's biggest bank Mitsubishi UFJ Financial Group is mulling acquisitions in the Philippines and Indonesia to expand its overseas business.
"If we have to choose a couple of countries in Asia, I would say I would really seriously consider the opportunities in Indonesia and the
Philippines," said Mitsubishi UFJ deputy president Masaaki Tanaka.
He said there are business growth opportunities in the 2 countries, although the lender is not in talks with any particular company.
According to Bloomberg, Japanese banks are seeking acquisitions outside their home country, where falling lending rates have led to the lowest interest margins in Asia.
Last December, Mitsubishi UFJ completed the purchase of a controlling stake in a Thailand bank.