Japan’s biggest lender Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU) said the Philippine market plays a crucial role in its goal to become Asia’s Tier 1 financial institution.

BTMU, which recently bought a 20-percent stake in the Philippines’ Security Bank Corp., said it envisions surpassing three of the biggest banks in Asia (HSBC, Citibank and Standard Chartered Bank) by 2020.