Half of Japan's regional banks see profit loss or incur red ink

Economy

More than half of 78 listed Japanese regional banking groups and banks saw a decline in their net profits or incurred red ink in the April-December period, hit by the coronavirus pandemic, an analysis of their earnings reports showed Saturday. Also affected by the Bank of Japan's ultraeasy monetary policy, resulting in low lending interest rates, their combined net profit fell 18.4 percent to 603.3 billion yen ($5.75 billion) in the nine months from a year earlier, the analysis showed. The central bank is maintaining short-term rates at minus 0.1 percent while guiding long-term rates at around...

Kyodo News

Kyodo News