MUFG Is Bullish on India and Seeking M&A Deals to Drive Growth

Bloomberg11-11

(Bloomberg) -- Mitsubishi UFJ Financial Group Inc. is bullish on India, where it’s actively looking for acquisition targets that will help boost its presence in the world’s most populous nation. The ...

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The financial sector grows in such markets.”MUFG is competing with a slew of global lenders to expand in the world’s fastest-growing major economy. Domestic rival Mizuho Financial Group Inc., for one, is investing in a financial services startup, while Sumitomo Mitsui Financial Group Inc. is considering how t","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4516":"特朗普概念","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK4588":"碎股","LU0106831901.USD":"贝莱德世界金融基金A2","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","BK4207":"综合性银行","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","BK4581":"高盛持仓","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4504":"桥水持仓","MUFG":"三菱日联金融","LU0971096721.USD":"富达环球金融服务 A","LU1548497426.USD":"安联环球人工智能AT Acc","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4127":"投资银行业与经纪业"},"translate_title":"三菱日联金融集团看好印度并寻求并购交易以推动增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MUFG":1},"content_text":"(Bloomberg) -- Mitsubishi UFJ Financial Group Inc. is bullish on India, where it’s actively looking for acquisition targets that will help boost its presence in the world’s most populous nation. \nThe goal for Japan’s largest lender is to push up its buyouts and investment in India, and increase annual returns from them to 20% in 10 years, Yasushi Itagaki, head of MUFG’s global commercial banking business, said in an interview.\nGiven India’s ambition to become a manufacturing powerhouse, its energy demand is likely to rise and there are already many renewable projects, creating opportunities for MUFG as a finance provider, Itagaki said. “It has good economic fundamentals and political stability. The financial sector grows in such markets.”\nMUFG is competing with a slew of global lenders to expand in the world’s fastest-growing major economy. Domestic rival Mizuho Financial Group Inc., for one, is investing in a financial services startup, while Sumitomo Mitsui Financial Group Inc. is considering how to become more of a full-fledged banking player in the country despite regulatory hurdles.\nBut while India has a standout economic growth rate, with gross domestic product rising 6.7% from a year earlier in the April-June quarter, that still represents a slowdown from earlier periods. And in the financial sector there’s been an increase in retail-loan defaults due to aggressive lending practices, causing stresses that risk spilling over to the share market and the overall economy.\nItagaki joined a bank in 1987 that through mergers ultimately became MUFG, and he rose through the ranks in overseas businesses. He said he was the head of a handful of bankers who handled secret negotiations to invest $9 billion in Morgan Stanley in 2008 during the global financial crisis.\nNo. 1 Lender\nMUFG already has a significant presence in India. It’s ranked the first in India’s foreign currency loans league table so far this year, beating other regional powerhouses like HSBC Holdings Plc and DBS Group Holdings Ltd., according to Bloomberg-compiled data.\nLike its Wall Street rivals, MUFG has a major back-office business in India that provides support services for the banking group’s global operations. The unit was set up in 2020 and has staff of about 1,500 that Itagaki seeks to double in about three years.\nItagaki leads MUFG’s Asia expansion push outside Japan, and its India and digital operations are two growth drivers that it envisions will be highly profitable. He likens the businesses to Mickey Mouse, with the face representing global commercial banking having a goal of 15% return on equity in 10 years, while the two ears are India and digital, both of which will aim for 20% annual returns.\nIn the digital field, MUFG is considering either buying or investing in Asia’s fintech companies such as online consumer lenders.  \nThe focus on India is a shift for MUFG, which like other big Japanese lenders spent the last decade snapping up commercial banks and other financial firms in major Southeast Asian countries such as Thailand and Indonesia.\n“Compared with Southeast Asia, our history and experience are not deep yet” in India, Itagaki said. “But we cannot just sit on our hands. This is something we learn as we jump in and manage businesses.” \n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482218907"}