Tokyo, December 26, 2022 - MUFG’s consolidated subsidiary MUFG Bank today announced that it has decided to invest USD 200 million in Silvrr Technology Co., Ltd. (“Akulaku”), a fintech company providing digital financial services in Indonesia and across Southeast Asia. This investment will contribute to MUFG’s focus on taking a broad approach to fulfilling various financial needs in Indonesia and other Asian countries and leveraging their growth in a diversified manner.

For MUFG, which considers Asia its second home market, Indonesia is particularly important because it boasts the largest GDP in Southeast Asia and is expected to have high growth rates in the future. In addition to MUFG Bank’s Jakarta Branch, one of the largest foreign banks in Indonesia, MUFG has also established a business foundation in commercial banking in the country through having made Bank Danamon a consolidated subsidiary in April 2019.

In Indonesia, where the penetration rate of financial services is low, digital financial services provided by fast-growing fintech companies making full use of data and AI technology are emerging, and the trend toward financial inclusion is accelerating in response to the financial needs of underbanked/unbanked individuals and SMEs, who may become MUFG’s customer base in the future.

In this environment, in February 2020, MUFG formed a capital and business alliance with Grab, a super app operator focusing on ride-hailing and food delivery in Southeast Asia, to provide next-generation financial services that combine MUFG's financial knowledge and know-how with Grab's advanced technology and data utilization.

Furthermore, in November 2022, MUFG announced the acquisition of HC Philippines and HC Indonesia, a leading consumer finance company that provides POS[3] loans, with the aim of strengthening the capture of financial needs at offline stores.

The new investment in Akulaku, a fintech company that provides digital financial services such as Buy Now Pay Later and cash lending will also strengthen the capture of financial needs in online scenarios, in addition to those at offline stores.

MUFG will further contribute to the growth of Asia by leveraging digitalization to strengthen the commercial banking platforms of its partner banks in Southeast Asia while fulfilling the growing financial needs of the region.