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.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.