(15 January 2013 – Japan) Japan’s Bank of Tokyo-Mitsubishi UFJ (BTMU) is looking to acquire Indonesian and Philippine banks in a bid to offset its stagnant domestic market.If an Indonesian acquisition does occur, it would be the Japanese banks second within Indonesia.
BTMU acquired a 20 percent stake in Bandung-based Bank Nusantara Parahyangan in 2007.
Deputy president and group chief executive of Global Banking and Lending for BTMU, Takashi Morimura said the Tokyo-based lender is keeping its strategic focus in Asia when it comes to expansion.
It is also looking to buy banks in the Philippines, Morimura said, although he admits that there are no discussions with local lenders yet.
“We’re trying to enhance our network and commercial banking business so if there’s a good target and the timing is good, we would like to do it as soon as possible,” Morimura said.