INTERVIEW: Resona to Help Improve Profitability of Regional Banks

Economy

Tokyo, Nov. 27 (Jiji Press)--Resona Holdings Inc. <8308> aims to help improve profitability of regional banks through asset management operations, its president, Kazuhiro Higashi, has said in an interview.

The major Japanese banking group plans to provide regional banks with a related system and investment products, according to Higashi.

Resona, for its part, hopes to gain commission income from the service, at a time when the business environment surrounding the banking sector remains tough as domestic interest rates remain low.

"While it takes time to conclude a capital alliance, we can swiftly work (with regional banks) on mutually beneficial businesses," Higashi said.

Resona plans to offer a system allowing regional banks to manage its fund wrap programs at their own accounts, Higashi said. Resona has already received inquiries from some regional banks, he said, adding that it hopes to launch the service around autumn next year.

[Copyright The Jiji Press, Ltd.]

Jiji Press