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MUFG Seeks to Spend $900 Million on Acquisitions in U.S, Asia

  • First time banking unit CEO has said how much he may spend
  • Wants bigger scale in U.S.; also eyeing India, Indonesia

Mitsubishi UFJ Financial Group Inc.’s lending arm is seeking acquisitions of about 100 billion yen ($890 million) in Asia and the U.S. to bolster its global operations, its top executive said.

Bank of Tokyo Mitsubishi UFJ Ltd., to be renamed MUFG Bank in April, would consider taking majority stakes in banks in countries such as Indonesia or India in addition to the U.S., Chief Executive Officer Kanetsugu Mike said in an interview.