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Bank of Tokyo-Mitsubishi UFJ Ltd. President Takashi Oyamada and Sumitomo Mitsui Financial Group Inc. Chairman Masayuki Oku are expected to sign a memorandum of understanding in Tokyo with executives of the oil firm known as Saudi Aramco, according to the people. An official from Mizuho Financial Group Inc. will also sign the deal as soon as Thursday, the people said, asking not to be identified because the information isn’t public. The Tokyo-based lenders are seeking to get involved in Aramco’s IPO, two of the people said. Japan’s trade ministry has asked the oil company to list its shares on the Tokyo Stock Exchange, people with knowledge of the matter said earlier this week. MUFG and its rivals are accelerating efforts to grab larger clients abroad like Aramco to counter slowing loan demand and shrinking interest rates at home.
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Bank of Tokyo-Mitsubishi UFJ Ltd. President Takashi Oyamada and Sumitomo Mitsui Financial Group Inc. Chairman Masayuki Oku are expected to sign a memorandum of understanding in Tokyo with executives of the oil firm known as Saudi Aramco, according to the people. An official from Mizuho Financial Group Inc. will also sign the deal as soon as Thursday, the people said, asking not to be identified because the information isn’t public. The Tokyo-based lenders are seeking to get involved in Aramco’s IPO, two of the people said. Japan’s trade ministry has asked the oil company to list its shares on the Tokyo Stock Exchange, people with knowledge of the matter said earlier this week. MUFG and its rivals are accelerating efforts to grab larger clients abroad like Aramco to counter slowing loan demand and shrinking interest rates at home.
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