Japan's MUFG to buy credit companies in Philippines, Indonesia

Mitsubishi will purchase Home Credit's local affiliates for 600m euros

Mitsubishi UFJ Financial Group, Japan's largest bank, is hoping to gain a foothold in fast-growing consumer loan businesses in Southeast Asia.

Nikkei staff writers

November 23, 2022 19:38 JST

Updated on November 24, 2022 01:43 JST

TOKYO -- Mitsubishi UFJ Financial Group, Japan's largest bank, is buying credit companies in the Philippines and Indonesia for a total of 600 million euros ($618 million), aiming to gain a foothold in fast-growing consumer loan businesses in Southeast Asia, Nikkei has learned.