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Bank of Tokyo-Mitsubishi seeks to acquire US bank, expand Asia fixed income biz

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Bank of Tokyo-Mitsubishi seeks to acquire US bank, expand Asia fixed income biz

Bank of Tokyo-MitsubishiUFJ Ltd. is looking at further acquisitions in the U.S. and Asia asit aims to become a leading global commercial bank, Bloomberg News reported April3, citing Takashi Oyamada, president and CEO of the bank.

The bank is considering the acquisition of a "reasonablylarge" regional bank in the U.S. It has a list of potential targets but isnot in any specific negotiations now, Oyamada said.

The bank is focused on the U.S. banking market as it offers steadygrowth, while Asia presents opportunities for the lender because of its expandingmiddle class, the CEO explained.

Oyamada also said the lender is looking to expand its fixed incomeoperations in Asia, the Financial Timesreported the same day.

The CEO made the comment as U.S. and European rivals have scaledback their fixed income, currencies and commodities business in response to tougherregulations.