MUFG chief executive Nobuyuki Hirano. Illustration: Pete Ellis
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When MUFG acquired a 19.9% stake in Bank Danamon in December, the first part of an intended three-phase deal to get to majority control, it marked the conclusion of a five-year effort to build stakes across southeast Asia by Japan’s biggest bank.
“Indonesia was the last, biggest missing piece for our Asian strategy,” Aki Tokunari, group chief financial officer and senior managing executive officer, tells Euromoney in MUFG’s Tokyo head office.
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