Bank News: Japan’s Mitsubishi Finance Plans to Purchase HDFC Bank Shares

Bank Merger News: As the Indian economy is rapidly increasing with the population of India, global names are eager to invest in the country’s growing sectors. According to Bloomberg, Japan’s largest lender Mitsubishi UFJ Financial Group is considering increasing demand for personal finance loans in India and is planning to buy $1.7 billion in consumer lending units of HDFC Bank Ltd. 

HDFC-Mitsubishi Merger

HDFC’s HDB Financial Services Ltd. provides personal, gold, and auto loans, and MUFG is preparing to buy a share of 20%. HDFC Bank has been trying to sell its share of HDB Financial Services for many years. As Japan is currently facing slow growth, the big lenders are looking for opportunities in Asia to increase their lending revenue. Although the deal is still in the final stages, it is expected that this deal will have a great impact on HDFC’s shares.