April-Dec. Profits Down at Many Japanese Regional Banks

Tokyo, Feb. 15 (Jiji Press)--Thirty-nine of 75 listed Japanese regional banks and banking groups have reported year-on-year falls in net profits for April-December last year.

Combined net profits at 70 banks and groups for which simple year-on-year comparison is possible dropped 3.0 pct from a year before to 664.7 billion yen.

Soaring energy prices weighed on borrowers' performance, pushing down profits at regional lenders. Another major negative factor was increased credit costs.

On a parent-only basis, combined net profits at 90 regional banks, including subsidiaries of banking holding companies, slipped 1.0 pct.

Of them, 51 posted lower net profits or net losses. The loss makers included Fukuho Bank, which suffered a bond trading loss, and Kirayaka Bank, hurt by bulging credit costs.

[Copyright The Jiji Press, Ltd.]