MUFG Pledges Support to Southeast Asian Students in Japan

Stocks and Financial Services Press Releases Friday August 14, 2020 13:34
Bangkok--14 Aug--Bank of Ayudhya

MUFG Bank, Ltd. and Bank of Ayudhya (Krungsri) are amongst a group of MUFG companies and strategic bank partners in Asia that have jointly pledged JPY400 million (approximately THB116 million) to help Southeast Asian students in Japan tide through economic difficulties during the COVID-19 pandemic.

A total of five MUFG group companies have stepped forward to support this donation drive: MUFG Bank, Ltd., Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi UFJ Securities Holdings Co., Ltd., Mitsubishi UFJ NICOS Co., Ltd. and ACOM Co., Ltd. MUFG’s strategic partner banks are: Krungsri in Thailand, Bank Danamon in Indonesia, Security Bank in the Philippines, and VietinBank in Vietnam.

MUFG will distribute the donation amount evenly across four beneficiaries: Thai Students’ Association in Japan; Embassy of the Republic of Indonesia in Japan; Association of Filipino Students in Japan and Embassy of the Socialist Republic of Vietnam in Japan.

The donation will serve as financial aid to students from these four countries that may experience any economic hardship or have their studies in Japan interrupted due to the COVID-19 situation.

The nationalities of these Southeast Asian students correspond to the four markets MUFG has made strategic investments in over the past few years. This support from MUFG underscores the group’s commitment to not just the economic growth but social well-being of the markets it operates in. Since 2012, MUFG has invested more than USD14 billion in leading banks in these four countries, creating a distinctive competitive advantage in Asia – VietinBank in Vietnam, Krungsri in Thailand, Security Bank in the Philippines and Bank Danamon in Indonesia.

This contribution is also the latest in MUFG’s ongoing support towards Japan’s relief efforts. Previously, MUFG has donated a cumulative total of JPY2.5 billion that would go towards a variety of causes ranging from supporting healthcare workers and needy students to the resumption of cultural activities in the country.[1] [2]

Mr.Noriaki Goto,MUFG Bank’s Regional Executive for Asia Pacific and Krungsri’s Vice Chairman, said: “As a global bank with deep roots in Asia, MUFG is fully committed to supporting the sustainable development of the communities that it operates in. Just as we are working closely with clients to build resilience in their businesses during these trying times, we hope that this support package will not only provide some measure of relief to students in need but demonstrate our long-term commitment to the deepening of bilateral ties between Japan and key Southeast Asian markets in the MUFG network. This donation is also a show of solidarity with our strategic partner banks, which have been doing admirable work in supporting the relief efforts in their own communities.”

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