Japan's Bank of Tokyo-Mitsubishi UFJ, a unit of Mitsubishi UFJ Financial Group Inc (MUFG) , plans to purchase a 20 percent interest in VietinBank from the Vietnamese government for about 60 billion yen ($720 million), a source said.VietinBank, or Vietnam Joint Stock Commercial Bank for Industry and Trade, is Vietnam's second-largest partly private lender.The bank said on Wednesday its 2012 gross profit may fall 11 percent to 7.5 trillion dong ($360 million) instead of rising 7 percent as earlier forecast.Bank of Tokyo-Mitsubishi UFJ, the core retail and commercial bank arm of MUFG, hopes to complete the deal in the first half of next year, Japanese business daily the Nikkei said.
Mitsubishi UFJ Financial Group, Inc. is a Japan-based company mainly engaged in the banking business. Shares of MTU remained unchanged at $4.55. In the past year, the shares have traded as low as $4.03 and as high as $5.36. On average, 1025620 shares of MTU exchange hands on a given day and today's volume is recorded at 2518786.
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