Japan's MUFG to buy 20 pct stake in VietinBank for $720 mln-source

TOKYO Wed Dec 12, 2012 7:10pm EST

TOKYO Dec 13 (Reuters) - Japan's Bank of Tokyo-Mitsubishi UFJ, a unit of Mitsubishi UFJ Financial Group Inc (MUFG) , plans to buy a 20 percent interest in VietinBank from the Vietnamese government for about 60 billion yen ($720 million), a source said.

VietinBank, or Vietnam Joint Stock Commercial Bank for Industry and Trade, is Vietnam's second-largest partly private lender.