MUFG to Inject $2 billion into Union Bank
In a much anticipated financial salvage, Mitsubishi UFJ Financial Group Inc. (NYSE: MTU) is planning by the end of the month to throw in $2 billion into its wholly owned and financially troubled subsidiary, Union Bank (NYSE:UB).
The bank has been incapacitated by irrecoverable real estate loans due to recession and financial crunch in the United States.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Japan Times MUFG UNION BANKNews