Local News

The 19 exchange-listed regional banks headquartered in Kyushu and Yamaguchi Prefecture released their financial reports for the year ended March 2008. Of these 19, 15 reported lower net profits for their core business. This was attributed to a combination of the banks’ refraining from hiking interest rates for loans, an increase in the interest paid on savings accounts, and the market conditions caused by the sub-prime mortgage problem in the United States.