MUFG faces multibillion-dollar write-down on Indonesian bank

Danamon's shares tanked after MSCI index removal

20190612N Danamon

Bank Danamon's stock suffered from low liquidity after MUFG bought a 94% stake in the Indonesian lender. © Reuters

SHIKO UEDA, Nikkei staff writer

TOKYO -- Mitsubishi UFJ Financial Group, Japan's biggest banking group, faces the risk of a multibillion-dollar write-down on its controlling stake in an Indonesian lender whose share price plummeted in recent weeks.

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