Mitsubishi UFJ Financial Group Inc. plans to increase loans to energy and utility industries in the U.S. to capitalize on a recovery there, President Nobuyuki Hirano said.
The bank, whose San Francisco-based UnionBanCal Corp. unit last week agreed to acquire $3.7 billion of U.S. property-loan assets from Deutsche Bank, is still looking to buy another lender in the country, Hirano, 61, said in an April 8 interview.
Mitsubishi UFJ, Japan's biggest lender, is stepping up acquisitions in the U.S. as a rebound in the housing market and increasing demand for its natural gas brighten growth prospects.