The Asian Banker

Japanese banks in Southeast Asia expansion bid to tap regional growth
BTMU seeks to finalise a proposed $5.75b acquisition in Thailand’s Bank of Ayudhya, in a move widely expected to boost both banks’ retail and corporate banking endeavours.

Jul 05, 2013 | Magessan Raj

On July 2nd 2013, Bank of Tokyo-Mitsubishi UFJ (BTMU), a subsidiary of Mitsubishi UFJ Financial Group (MUFG), announced that it had reached an agreement with GE Capital to purchase the latter’s 25.3% stake in Bank of Ayudhya, as it sought to finalise a proposed $5.75 billion (75% stake) acquisition in Thailand’s fifth-largest bank. In what would be the largest acquisition by a Japanese bank in Southeast Asia, the deal is still subject to regulatory approval, with Thailand’s finance ministry capping foreign ownership in domestic banks at 49%. However, MUFG has reported that it believes…

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Categories: Auto-financing, Retail Banking, Trade Finance, Transaction Banking
Keywords: BTMU, MUFG, Bank of Ayudhya, SMFG, Mizuho Financial Group, VietinBank, Bank Tabungan Pensiunan Nasional, Vietcombank, Corporate Banking
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