MUFG steps up Asean expansion

The Japanese megabank is buying a 20% stake in Philippine lender Security Bank in an acceleration of its overseas shift.

MUFG steps up Asean expansion

Japan’s MUFG is buying a 20% stake in the Philippine regional lender Security Bank for $773 million, marking an acceleration of its shift overseas. 

The purchase by Bank of Tokyo-Mitsubishi UFJ, the main lending arm of MUFG, is also the largest equity investment in a Philippine financial institution by a foreign investor.

BTMU will acquire Security Bank’s common shares and preferred shares with voting rights through a private placement...

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