Japanese regional banks’ low profitability may persist amid low rates – S&P

Japanese regional banks’ low profitability may persist amid low rates – S&P

Japanese banks, especially regional lenders, may continue to battle low profitability amid falling interest rates that are already among the lowest in the world, according to S&P Global Ratings analysts. Japan‘s short-term rates are now at -0.1%, making it the only Asian economy to have a negative interest rate since its introduction in January 2016. Long-term rates are at zero.…
UPDATE 1-Japan’s SMFG Q1 profit more than doubles as credit costs drop

UPDATE 1-Japan’s SMFG Q1 profit more than doubles as credit costs drop

By Reuters Staff 2 Min Read * First quarter net profit at 203.2 bln yen * Credit costs at 10.3 bln yen vs 114.8 bln yen year earlier * Keeps full-year net profit forecast at 600 bln yen (Adds further earnings figures, context) TOKYO, July 30 (Reuters) – Sumitomo Mitsui Financial Group Inc (SMFG) on Friday reported more than doubled…
Japanese regional banks’ low profitability may persist amid low rates – S&P

Japanese regional banks’ low profitability may persist amid low rates – S&P

Japanese banks, especially regional lenders, may continue to battle low profitability amid falling interest rates that are already among the lowest in the world, according to S&P Global Ratings analysts. Japan‘s short-term rates are now at -0.1%, making it the only Asian economy to have a negative interest rate since its introduction in January 2016. Long-term rates are at zero.…
Bank of Japan Opens Push on Climate Change in Contrast to Fed

Bank of Japan Opens Push on Climate Change in Contrast to Fed

The Bank (Finance & Banking Trends) of Japan said it would help finance projects addressing climate change, adding to the debate over whether environmental issues should be part of a central bank’s mission. The Japanese central bank’s plans released Friday include no-interest loans to commercial banks to support their lending for projects judged to be environmentally friendly and the purchase…
Japanese regional banks’ low profitability may persist amid low rates – S&P

Japanese regional banks’ low profitability may persist amid low rates – S&P

Japanese banks, especially regional lenders, may continue to battle low profitability amid falling interest rates that are already among the lowest in the world, according to S&P Global Ratings analysts. Japan‘s short-term rates are now at -0.1%, making it the only Asian economy to have a negative interest rate since its introduction in January 2016. Long-term rates are at zero.…
Japan’s bank lending rise at slowest pace in 8 years as COVID-19 hit subsides

Japan’s bank lending rise at slowest pace in 8 years as COVID-19 hit subsides

June bank lending up 1.4% yr/yr, vs +2.8% in May Total deposits continue to rise, hit record in June Companies, households pile up cash, withhold spending TOKYO, July 8 (Reuters) – Japanese bank lending rose at its slowest annual pace in more than eight years in June as corporate fund demand to weather coronavirus-linked cash constraints subsided, central bank data…
Japan’s SMFG to buy 74.9% stake in Fullerton India for $2 bln

Japan’s SMFG to buy 74.9% stake in Fullerton India for $2 bln

TOKYO, July 6 (Reuters) – Sumitomo Mitsui Financial Group Inc (8316.T), Japan‘s second-largest lender by assets, said on Tuesday it would buy a 74.9% stake in Fullerton India for $2 billion, marking the first major foray by a Japanese bank into India during recent times. Given a slow-growing domestic market, Japanese banks including SMFG have sought business opportunity outside the…