Japan’s reappointed finmin Aso says will prod regional banks to pursue reforms By Reuters

Japan's reappointed finmin Aso says will prod regional banks to


© Reuters. Japan’s newly-appointed Finance Minister Taro Aso speaks at a news conference in Tokyo

TOKYO (Reuters) – Japanese Finance Minister Taro Aso said on Wednesday he will encourage regional banks to push through reforms to survive headwinds such as a dwindling population.

“It’s becoming harder for regional banks to maintain the current business model given a dwindling population. I will encourage them to pursue reforms to make their business model more sustainable,” Aso told a news conference Wednesday evening after being reappointed as finance minister.

“Merging and decreasing (the number of regional banks) are among means that banks can consider. But they’re not the only options,” said Aso, who is also minister overseeing bank regulation.

Japan’s regional banks have seen their profits eroded by years of ultra-low interest rates and a dwindling local population. Some analysts warn they could be saddled with increasing credit costs as the coronavirus pandemic hit profits of many borrowers.

Yoshihide Suga became Japan’s first new prime minister in nearly eight years on Wednesday, pledging to contain COVID-19 and push reforms after retaining about half of predecessor Shinzo Abe’s lineup in his cabinet.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME