Mitsubishi To Pump $2bn Into US Bank Subsidiary

Mitsubishi UFJ Financial Group Inc. (MUFG) announced that it has decided to inject $2 billion into Union Bank NA, its wholly owned US unit. Union Bank NA saw its bad-loan losses skyrocket to $690 million in the January-June half-year period. Through the capital injection, MUFG will put the California-based bank's financial standing on par with its US rivals.