The Deposit Insurance Corporation of Japan announced it will approve Fukuoka City-based Nishi-Nippon City Bank’s payback of public funds it received in 2006 through the purchase of preferred stock to offset the problems of the former Fukuoka City Bank which was absorbed by the new entity. The bank will repurchase its preferred stock held by the DIC. After the buy-back, the bank will eliminate its preferred stock.
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- Nishi-Nippon City Bank to Repay 35 Billion Yen in Public Funds
Nishi-Nippon City Bank to Repay 35 Billion Yen in Public Funds
- Published: Jul 15, 2010 / Last Updated: Jul 15, 2010
