Local News

Business Bad for Regional Banks Last Year

The 18 regional banks based in Kyushu and Yamaguchi Prefecture simultaneously released their business results for the year ended March 2009 on the 15th. Eight of the banks posted net losses for the year, while seven more suffered declines in net profit. There was an aggregate net loss of 23.1 billion yen for all 18 banks. This performance was attributed to the global economic downturn and the losses that accrued to the banks’ investments in securities.

Published: May 21, 2009 / Last Updated: May 21, 2009