60 Pct of Japanese Regional Lenders Log Lower Profits or Losses

   Tokyo, Nov. 14 (Jiji Press)--About 60 pct of 73 Japanese regional banks and banking groups posted consolidated net profit falls or net losses in April-September, their recent earnings reports have shown.
   Profits were eroded as credit costs ballooned in anticipation of corporate bankruptcies stemming from inflation and other factors.
   Combined net profits at the 73 institutions fell 6.8 pct from a year before to 539.5 billion yen.
   On an unconsolidated basis, combined net profits at 91 banks dropped 6.5 pct. Credit costs rose about 15 pct to 48.5 billion yen.
   Many of the institutions believe that companies and individuals are proceeding well with repayments of interest-free, unsecured loans extended to counter the impact of the COVID-19 pandemic. The repayments have been in full swing since this summer.

(2023/11/14-21:22)

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