• Kyodo News


Mitsubishi UFJ Financial Group Inc. said Saturday it will inject $2 billion into Union Bank, its wholly owned subsidiary in California, by the end of the month to bolster the struggling lender’s financial base.

MUFG said Union Bank is suffering from real estate loans that are becoming irrecoverable because of the recession and credit crunch, with bad-loan losses for the January-June half exceeding $600 million — more than triple that logged in the same period last year.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.