Nov
13
Japan’s Big Banks Struggle to Make Money From Lending
By-
Negative interest rates exacerbating drop in lending income
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Megabanks still seen on track to achieve annual profit goals
Making money from lending remains a tough task for Japan’s biggest banks.
Profit at Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. probably fell about 20 percent last quarter as negative interest rates pressured loan income at home and the stronger yen dented earnings abroad, according to analysts surveyed before results due Monday. Sumitomo Mitsui Financial Group Inc.’s net income is estimated to have risen 31 percent after it booked a writedown on its stake in an Indonesian lender a year earlier…
Japan’s Big Banks Struggle to Make Money From Lending
