The Bank of Tokyo-Mitsubishi UFJ is considering selling its stake in Central Finance Co. in response to the consumer credit firm’s decision to leave the banking group to join a rival camp led by Sumitomo Mitsui Financial Group Inc., sources said Tuesday.
BTMU is eyeing severing all of its existing partnerships with Central Finance, including the capital alliance in which the bank holds a stake of around 4.8 percent in the consumer loan firm.
The move apparently amounts to retaliation for Central Finance’s decision to join the Sumitomo Mitsui group. It is rare for an affiliate of a major bank to join a rival group.
BTMU, the core unit of Mitsubishi UFJ Financial Group Inc., is also expected to request that Central Finance return about 60 billion yen in short-term lending, the sources said.
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