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…