Mitsubishi UFJ Financial Group Inc., the nation's biggest bank, is shooting to become one of Asia's three biggest lenders by profit through acquisitions, funding infrastructure projects and expanding retail banking.
The company set up a team of about 10 people last year to explore takeovers in Asia and the United States, Deputy President Tatsuo Tanaka, who oversees global operations for the Tokyo-based lender, said in an interview in Hong Kong on Wednesday.
The bank also wants to expand its retail lending, private banking and asset management businesses, with a special focus on China, India, Indonesia and Australia, he said.
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