The Bankwatch

Tokyo Mitsubishi UFJ from Japan, and one of the worlds largest Banks follows on the recent purchase of Union Bank of California, with an increased stake in the Acom group, who have US $18 billions in personal loans.

In this volatile market banks with strength and capacity are taking advantage of the times. 

MUFG raises stake in Japanese moneylender
Mitsubishi UFJ Financial Group is expanding its involvement in the consumer finance business by paying Y152.6bn ($1.4bn) to raise its stake in Acom, Japan’s biggest moneylender.

Japan’s largest banking group said Monday it would launch a tender offer for shares in Acom at Y4,000 a share, a 30 per cent premium to the average closing price in the past month, to raise its share from 15.77 to 40.4 per cent.

Bank of Tokyo Mitsubishi UFJ and KDDI (5th largest bank in the world, and a telephone company) announce a new bank focussed on telephone and internet access only.  Both from Japan, this is an interesting model, that levers the strength of world class companies in their respective fields.

KDDI Announces Launch of Jibun Bank Customer Services

Jibun Bank Corporation is pleased to announce that it has today started accepting applications from customers for new accounts and has launched full customer services via mobile phones (au, NTT DoCoMo, and Softbank Mobile), the Internet (PCs), and the telephone (IVR/operator).

At the same time, KDDI Corporation and the Bank of Tokyo-Mitsubishi UFJ have started marketing and opening accounts for Jibun Bank as bank agents.

Making the most of mobile phones, Jibun Bank is striving to become a financial institution with top customer satisfaction – a “personal bank for each individual customer” – providing high-quality financial services that are both convenient and secure.