The Bank of Tokyo-Mitsubishi UFJ will invest around ¥100 billion in the Philippines’ Security Bank, in its latest move to capitalize on growth in that nation’s market, sources close to the matter said Thursday.
The main unit of Mitsubishi UFJ Financial Group Inc. plans to obtain a roughly 20 percent stake in Security Bank in a private allocation, becoming its second-largest shareholder. The Japanese bank is also considering having a presence on Security Bank’s board, the sources said.
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