FILE PHOTO – People walk past a branch of Mitsubishi UFJ Financial Group’s bank of Tokyo-Mitsubishi UFJ (MUFG) in Tokyo, Japan, May 16, 2016. REUTERS/Thomas Peter/File Photo
The price tag for a partnership with ride-hailing startup Grab Holdings was $706 million, an unprecedented sum for a Japanese lender to invest in an overseas nonfinancial company. But for MUFG Bank, its expertise in all-in-one “super apps” was worth the cost.
