June 23, 2013

Mitsubishi UFJ close to invest in Thai bank valued at 3.4 trillion yen

"Mitsubishi UFJ Financial Group Inc. is in the final stage of negotiations to acquire Thailand's Bank of Ayudhya PCL, the first full-scale venture ever by a Japanese bank into banking management elsewhere in Asia ....The Bank of Ayudhya has total assets of 3.4 trillion yen ($35 billion)....The bank is currently capitalized at around 600 billion yen..... Japan's aging and shrinking population means that the prospects of profitability on loans extended around the country are diminishing. Many major Japanese banks are, therefore, eager to pursue more earnings from overseas. Booming economies in Asia and elsewhere offer attractive returns."

Source: Mitsubishi UFJ to acquire major Thai bank
June 22nd 2013
Asahi Shimbun

No comments:

Post a Comment