Japan’s MUFG Bank ( formerly Bank of Tokyo-Mitsubishi UFJ) has great expectations of India.
India Inc clearly has a new financier, and for once, it’s not a Wall Street bank. Neither is it Swiss or a blueblooded British bankroller. For the first time, a Japanese bank that has been present in India for almost as long as the Tatas, has trumped competition to emerge as the premier debt house — G3 bonds and dollar loan syndication — among all foreign lenders on Mint Street in 2018, as per Bloomberg data. To put rankings into perspective, MUFG was not even in the reckoning four years ago. ndustry estimates put MUFG’s India business size at USD 13-14 billion, just by banking with larger corporates. This would be only second to a Standard Chartered Bank and far higher than a JP Morgan or Citi, say industry insiders.