Mitsubishi UFJ Financial Group is the largest bank in Japan in terms of market capitalization and assets with an 8.5% share of all domestic loans as of December 2020. It is the largest non-Chinese bank group globally and has a balance sheet slightly larger than those of JPMorgan Chase and HSBC Holdings. MUFG’s operations in Japan account for around half of profit, Bank of Ayudhya in Thailand around 10%, banking operations in the U.S. around 10% and equity-method earnings from Morgan Stanley more than 30%. We expect recently consolidated Bank Danamon in Indonesia to contribute 2%-3% of total earnings going forward.
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BLK, STT, C, WFC, STZ, FAST, BIIB
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EQH
PUK
Michael Makdad
Equity Analyst