Japan’s MUFG to exit U.S. retail banking in $8 bln deal with U.S. Bancorp

Japan’s MUFG to exit U.S. retail banking in $8 bln deal with U.S. Bancorp

Signboards of MUFG Bank (Finance & Banking Trends) are seen in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai/Files MUFG selling MUB to U.S. Bancorp for $8 bln Deal includes $5.5 bln in cash, $2.5 bln in shares MUFG to have 2.9% stake in Bancorp TOKYO, Sept 21 (Reuters) – Mitsubishi UFJ Financial Group (MUFG) (8306.T) is pulling back from U.S.…
Japan’s Mitsubishi UFJ considers sale of U.S. banking arm -report

Japan’s Mitsubishi UFJ considers sale of U.S. banking arm -report

A man walks past a signboard of Mitsubishi UFJ Financial Group and MUFG Bank (Finance & Banking Trends) at its headquarters in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai TOKYO, Sept 17 (Reuters) – Mitsubishi UFJ (8306.T) is considering selling its U.S. banking arm MUFG Union Bank (Finance & Banking Trends), Bloomberg reported on Friday, in what would mark a…
Top Japanese banks have long way to go to become as efficient as Asian peers

Top Japanese banks have long way to go to become as efficient as Asian peers

Major Japanese banks will need to consider expanding their income streams more aggressively, as years of cost cutting have yet to improve their efficiency to match their peers in the Asia-Pacific region. Among the 39 largest Asia-Pacific banks by assets, six of the 10 least efficient lenders were Japanese, despite significant year-over-year declines in their cost-to-income ratios for the quarter…
Japanese banks pile into local sovereign debt on hawkish Fed view

Japanese banks pile into local sovereign debt on hawkish Fed view

Japanese banks’ holdings of domestic government bonds could increase for the second straight year following the recent hawkish turn of the U.S. Federal Reserve and continued growth of yen deposits. Some lenders in the world’s third-largest economy started stocking up on 20-year Japanese government bonds, or JGBs, as the yield rose past 0.41% in late August, analysts said. That was…
Foreign banks are retreating from the U.S. MUFG is only the latest.

Foreign banks are retreating from the U.S. MUFG is only the latest.

Amid rising competition and revenue challenges, foreign banks are looking hard at their U.S. operations and asking: Should we stay or should we go? Since November, three have decided to go, at least partially, pulling the plug on their U.S. retail banking businesses while leaving intact other parts of their stateside operations. On Tuesday, Japanese banking giant Mitsubishi UFJ Financial…
Japan’s Mitsubishi UFJ considers sale of U.S. banking arm -report

Japan’s Mitsubishi UFJ considers sale of U.S. banking arm -report

A man walks past a signboard of Mitsubishi UFJ Financial Group and MUFG Bank (Finance & Banking Trends) at its headquarters in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai TOKYO, Sept 17 (Reuters) – Mitsubishi UFJ (8306.T) is considering selling its U.S. banking arm MUFG Union Bank (Finance & Banking Trends), Bloomberg reported on Friday, in what would mark a…
Japan regulator steps in to fix Mizuho’s computer flaws

Japan regulator steps in to fix Mizuho’s computer flaws

A pedestrian is reflected in a sign showing the logo of Japan‘s Mizuho Financial Group Inc outside the bank’s headquarters in Tokyo, Japan, May 15, 2015. REUTERS/Yuya Shino FSA to take role in helping Mizuho with system Technical problems persisted despite overhaul Regulator will not directly manage tech system TOKYO, Sept 22 (Reuters) – Japan‘s banking regulator will take a…
Top Japanese banks have long way to go to become as efficient as Asian peers

Top Japanese banks have long way to go to become as efficient as Asian peers

Major Japanese banks will need to consider expanding their income streams more aggressively, as years of cost cutting have yet to improve their efficiency to match their peers in the Asia-Pacific region. Among the 39 largest Asia-Pacific banks by assets, six of the 10 least efficient lenders were Japanese, despite significant year-over-year declines in their cost-to-income ratios for the quarter…