All 3 Suruga Bank Representative Directors to Quit over Loan Scandals

Economy Society

Tokyo, Aug. 29 (Jiji Press)--Suruga Bank <8358> President Akihiro Yoneyama, 52, is set to resign to take responsibility for document tampering and other irregularities at the regional bank over real estate investment loans, including for share houses, informed sources said Wednesday.

Toshihiko Shirai, 64, senior managing director of the lender based in the city of Numazu, Shizuoka Prefecture, central Japan, will also step down over the scandals, the sources said.

It has already been reported that Suruga Bank Chairman Mitsuyoshi Okano, 73, a member of the founding family of the bank, will leave the post.

The scandals will thus lead to the resignation of all three board directors with the right to represent the bank.

A third-party panel of lawyers established by Suruga Bank is slated to release within this week an report on its investigation into the scandals.

[Copyright The Jiji Press, Ltd.]

Jiji Press