INTERVIEW: Aozora Bank Advising Others on Use of Head Office, Branch Buildings

Economy

Tokyo, Aug. 15 (Jiji Press)--Aozora Bank <8304> has started a service of advising regional banks across Japan to help them make effective use of their head office and branch buildings, Shinsuke Baba, president of the major Japanese bank, said in an interview.

By utilizing its accumulated real estate business know-how, Aozora Bank will propose remaking their headquarters and branch buildings into multipurpose buildings that house commercial facilities as tenants or selling them to real estate investment funds for profits, according to Baba.

Aozora Bank also plans to offer cooperation for the creation of development projects to gain commission revenue, he said, adding that it has already started negotiations with some regional financial institutions.

"We hope that real estate assets will be used in a way to help shore up local communities," Baba said.

He ruled out the possibility of Aozora Bank seeking business integration with regional banks, saying: "Our bank's strength lies in its neutrality. We would like to work with regional financial institutions in a range of fields."

[Copyright The Jiji Press, Ltd.]

Jiji Press