Asian strategy bearing fruit: BTMU

JAPAN's biggest lender, Bank of Tokyo-Mitsubishi UFJ (BTMU), is reaping dividends from its overseas strategy and, in particular, the push into Asia. For the first half ended Sept 30, BTMU's net operating profit rose 9 per cent or 64.7 billion yen (S$711 million) to 787 billion yen from a year earlier, due to its offshore activities, the bank said last month.

Consolidated net operating profits from the customer segments increased by 61.6 billion yen, boosted by gains in corporate banking, global banking (business outside Japan) and trust assets as well as due to the consolidation of its Thai subsidiary Krungsri.

Net operating profits from customer segments made up 86 per cent or 676.8 billion yen of the total. Thirty six…