4.8500 0.00 (0.00%)
After hours: 4:18PM EST
|Bid||4.8500 x 1800|
|Ask||5.0000 x 21500|
|Day's Range||4.8300 - 4.9300|
|52 Week Range||4.4900 - 5.5400|
|Beta (5Y Monthly)||1.50|
|PE Ratio (TTM)||5.64|
|Forward Dividend & Yield||0.23 (4.64%)|
|Ex-Dividend Date||Sep 26, 2019|
|1y Target Est||7.77|
Grab embodies the triumph of hope over experience. The Singapore-based ride-hailing group still makes a loss. An extra $850m financing is good news for the business, whose backers include Japanese tech group SoftBank.
SoftBank Group Corporation (OTC: SFTBY ) backed Grab, a ride-hailing company operating in Southeast Asia, is raising more than $850 million from Japanese firms Mitsubishi UFJ Financial Group Inc . (NYSE: ...
SINGAPORE/TOKYO (Reuters) - Southeast Asia's Grab said Japan's Mitsubishi UFJ Financial Group Inc (MUFG) <8306.T> and IT services firm TIS Inc <3626.T> have agreed to invest a combined $856 million in the ride-hailing firm, as it seeks to expand aggressively into financial services. MUFG, Japan's biggest bank by assets, has agreed to invest $706 million, the companies said in statements on Tuesday. "MUFG's investment into Grab is a vote of confidence in our super app strategy and our ability to build a long-term, sustainable business," Ming Maa, Grab's president, said in a statement on Tuesday.
Half of Americans think that creating a basic saving plan is an important goal they would like to accomplish this year, but 28 percent feel it will be impossible to achieve, according to new research from PurePoint® Financial, a digital bank and division of MUFG Union Bank, N.A.
(Bloomberg) -- An employee of Mitsubishi UFJ Financial Group Inc. has been quarantined at home in Hong Kong after a family member was suspected of being infected with the new coronavirus, according to company memos seen by Bloomberg News.The employee, who is from the Japanese bank’s Quarry Bay office, is not infected. As a precautionary measure, other colleagues in the same office were also quarantined until further notice, according to one of the memos.A spokeperson for MUFG said that no employee in its Hong Kong branch is infected, and that the bank doesn’t answer any questions about whether its employees’ family members are infected due to privacy protection. The Hong Kong branch is operating without closing, he added.Hong Kong is grappling to contain the virus, which is hurting an economy already reeling from months of pro-democracy protests. In a bid to prevent infections from spreading further, the city has extended a closure of schools until at least March 16, while various events have been scrapped.Hubei province -- where the virus was first identified -- reported a jump of almost 15,000 new cases after it revised the method for counting infections, sending the total number in China toward 60,000.To contact the reporters on this story: Denise Wee in Hong Kong at firstname.lastname@example.org;Apple Lam in Hong Kong at email@example.comTo contact the editors responsible for this story: Andrew Monahan at firstname.lastname@example.org, Russell WardFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Union Bank today announced that Greg Seibly will be joining as President of Union Bank and Head of Regional Banking, effective March 2, 2020, and will be based in Southern California.
Mitsubishi UFJ (MUFG) reports disappointing earnings for the first nine months of fiscal 2019 (Dec 31, 2019), mainly affected by net extraordinary losses which resulted from one-time amortization of goodwill.
(Bloomberg) -- Follow Bloomberg on Telegram for all the investment news and analysis you need.Mitsubishi UFJ Financial Group Inc. posted its first quarterly loss in a decade and cut its annual profit forecast after booking a hefty charge on its stake in an Indonesian bank.Core lending business slumped in the quarter, underscoring the challenge for Hironori Kamezawa when he takes over from Kanetsugu Mike as chief executive officer in April. Gains from sales of shareholdings and bonds weren’t enough to prop up earnings, and bad-loan costs ticked higher, fiscal third-quarter results showed Tuesday.Japan’s biggest bank had already flagged the 207.4 billion yen ($1.9 billion) charge on its stake in PT Bank Danamon Indonesia, which reflects a drop in the share price of the recently acquired lender. Adding to the pain, it logged a 26.7 billion yen impairment on its U.S. banking operations, where it has had to refinance mortgages after the Federal Reserve cut interest rates.MUFG now expects full-year profit of 750 billion yen, down from 900 billion yen targeted previously. Investors shrugged off the loss, with the shares rising 0.9% on Wednesday morning in Tokyo, paring this year’s decline to less than 4%.“There were no major surprises,” Masahiko Sato, an analyst at SMBC Nikko Securities Inc., wrote in a note. MUFG could book profits from sales of foreign bonds in coming quarters, especially because U.S. long-term interest rates have been falling recently, he said.MUFG has relied on gains from overseas bond sales to drive earnings this fiscal year. Net operating profit climbed 5.5% in the nine months ended December, thanks to its global markets business which houses such transactions. Its customer segment, which includes banking and asset management, suffered declines in net operating profit.Lending profitability is under pressure as Japan heads into its fifth year of negative interest rates. Even so, MUFG’s rivals Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. eked out higher profit last quarter after seeing gains from lending income, results showed last week.MUFG said in December that it would book the writedown on its stake in Danamon during the quarter. The need for a charge has been looming ever since it completed its takeover in April, which triggered a sharp retreat in the small portion of Danamon shares still traded on the open market as they were removed from MSCI Inc.’s indexes.The bank said it could cancel the charge at the end of March if Danamon shares recover. It hasn’t disclosed the level at which a reversal would apply, but analysts estimate it at around 4,700 rupiah per share. Danamon traded at 3,440 Tuesday afternoon in Jakarta.Result HighlightsThe 25.7 billion yen net loss for the three months ended Dec. 31 compared with profit of 221.4 billion yen a year earlier, according to Bloomberg calculations based on nine-month figures released by the bank.Nine-month net income totaled 584.3 billion yen, about 78% of the revised goal.Gains on stock holdings totaled 35.8 billion yen in the quarter, compared with a loss a year earlier.(Updates with comment from analyst in the fifth paragraph)To contact the reporters on this story: Taiga Uranaka in Tokyo at email@example.com;Yuki Hagiwara in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Marcus Wright at email@example.com, Russell WardFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Mitsubishi UFJ Financial Group Inc (MUFG) , Japan's largest lender by assets, reported a net loss in the third quarter, for the first time in nearly a decade, as its banking unit booked a one-off charge on an Indonesian subsidiary. MUFG's net loss came in at 25.7 billion yen ($236 million) in October-December, which compared with 221.4 billion yen net profit in the same period a year earlier, according to Reuters' calculation based on nine-month cumulative figures disclosed in a stock exchange filing. MUFG, which is in the midst of a leadership transition, said in December that its core unit MUFG Bank would book a one-off charge of about 207.4 billion yen ($1.9 billion) for the third quarter due to a drop in the share price of Bank Danamon .
MUFG Union Bank N.A., today announced that receipt of real-time payments is available for its corporate, commercial, and retail clients via the RTP® network, operated by The Clearing House. The RTP network provides instantaneous receipt of payments, which increases payment certainty and funds availability, with funds immediately available for use. Real-time payments enable MUFG Union Bank clients to improve cash flow, manage working capital, and streamline processes.
Mitsubishi UFJ Financial Group Inc (MUFG), Japan's biggest lender, said on Friday it was replacing its CEO after one year and Hironori Kamezawa, who oversees its digital strategy, would be taking the reins. Outgoing CEO Kanetsugu Mike will become the group's deputy chairman but will remain as head of the core unit, MUFG Bank. Kamezawa, 58, currently deputy president, would be the first chief executive to have not previously headed MUFG Bank, a radical break with tradition.
Union Bank and global technology leader FIS™ (NYSE: FIS) today announced a cooperative agreement to deliver a next-generation core banking platform to power the bank through its next iteration of digital offerings.
Union Bank today announced it has completed the third installment of grants providing support to nearly 60 non-profit organizations throughout the West Coast. Under its Expanding Housing Opportunities (EHOP) strategic initiative, the bank's Corporate Social Responsibility (CSR) group is striving to expand access to affordable housing, particularly for low-and-moderate-income individuals and families. Over the last three years, Union Bank has granted nearly $3.5 million to carefully selected nonprofits through EHOP initiatives.
Mitsubishi UFJ (MUFG) displays growth through acquisitions and remains focused on its business-upgradation plan, though rising expenses and Bank of Japan's negative interest-rate policy are concerns.
Union Bank today announced it has committed $225,000 to help fund the Los Angeles-based Housing Development Training Institute (HDTI), which is part of Local Initiatives Support Corporation (LISC). The grant will be used for a training curriculum to develop and equip the next generation of affordable housing project managers.
The market has been volatile in the last few months as the Federal Reserve finalized its rate cuts and uncertainty looms over trade negotiations with China. Small cap stocks have been hit hard as a result, as the Russell 2000 ETF (IWM) has underperformed the larger S&P 500 ETF (SPY) by more than 10 percentage […]
Japanese Finance Minister Taro Aso said on Friday he did not believe the central bank's negative interest rate policy was behind a megabank's decision to consider implementing fees on some banking services. Aso made the comment after Mitsubishi UFJ Financial Group (MUFG) confirmed it was weighing such a move, following a report in the Nikkei business daily that the bank was considering fees on dormant accounts and other services. Years of the central bank's heavy money printing have failed to fire up inflation and crushed long-term interest rates near zero, drawing criticism from financial institutions for narrowing their margins and hurting their profits.
Frank Recruitment Group, an IT recruiting firm headquartered in the United Kingdom, recently opened its ninth stateside office in uptown Charlotte.
The new executive has deep roots in California banking, having started as a teller at Wells Fargo and later joining Bank of America.
44 percent of Millennials admit to using money as an excuse to not travel home for the holidays. One in five Gen Zers plan to spend big bucks on Mom and themselves, possibly adding up to over $500 spent on the two gifts. Four in 10 respondents admit they feel pressure to spend on people they don't want to, even more so for Millennials (56 percent).