ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

MUFG books $2bn loss on Indonesian banking unit

Bank Danamon shares drop to less than half purchase price

Mitsubishi UFJ Financial Group paid roughly $6.2 billion for Bank Danamon, but the lender's market value dropped after its removal from major indexes.   © Reuters

TOKYO -- Mitsubishi UFJ Financial Group said Monday that it will record an impairment loss of 207.4 billion yen ($1.89 billion) this quarter on its acquisition of an Indonesian bank whose stock has plunged since the April deal.

Bank Danamon shares ended Monday -- the last trading day of the October-December quarter -- at 3,950 rupiah, less than half what MUFG paid.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more