San Francisco-based Union Bank, N.A., the primary subsidiary
of UnionBanCal Corporation announced the completion of the
acquisition of PB Capital Corporation's commercial real estate
(CRE) loan division. Notably, PB Capital Corporation is a
wholly-owned subsidiary of
Deutsche Bank AG
UnionBanCal Corp. is a fully-owned subsidiary of The Bank of
Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of
Mitsubishi UFJ Financial Group Inc.
), also known as MUFG. Moreover, Union Bank is a leader in
providing financial services to individuals, small businesses,
middle-market companies and major corporations. With the aim of
expanding its geographic footprint, the bank forayed into the
Headquartered in New York, PB Capital's CRE loan unit has roughly
$3.5 billion worth of loans on properties in key metropolitan
areas across the U.S. Besides augmenting Union Bank's CRE
presence in the U.S., the acquisition offers a premium CRE loan
origination and servicing platform, an attractive client base,
diversified assets along with an experienced management panel to
Management at Union Bank expects the recent strategic acquisition
to be beneficial as it combines the present CRE lending platform
with the expertise and diverse client relationships of PB
Capital. Moreover, it will boost additional business prospects
for Union Bank.
Union Bank has been on an acquisition spree. In Oct 2012, it
closed the acquisition of Atlanta-based Smartstreet, a financial
services division of
PNC Financial Services Group Inc.
). Later in December, Union Bank announced the completion of the
acquisition of Santa Barbara-based Pacific Capital Bancorp for
The completion of the latest acquisition will ensure the offering
of a wide and improvised array of products, which will lead to
Currently, MUFG carries a Zacks Rank #1 (Strong Buy). Other
foreign banks that are worth considering include
Sumitomo Mitsui Financial Group Inc.
) with a Zacks Rank #1.
DEUTSCHE BK AG (DB): Free Stock Analysis
MITSUBISHI-UFJ (MTU): Free Stock Analysis
PNC FINL SVC CP (PNC): Free Stock Analysis
SUMITOMO-MITSUI (SMFG): Free Stock Analysis
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