Healthier banks may hold the key to financial cleanup
Article Abstract:
Financial analysts claim that Japan's 6 largest banks in terms of assets are the crucial factors in solving the country's financial crisis. Japan's unaffected banks include the Sumitomo Bank Ltd, Dai-Ichi Kangyo Bank Ltd, Fuji Bank Ltd, Sakura Bank Ltd, Bank of Tokyo-Mitsubishi Ltd and Sanwa Bank. The 6 banks loaned a total of $215 bil to the real estate industry between 1985 and 1990, which accounts for the bulk of the bad loans crippling Japan's economy. The abovementioned banks can write off bad loans and sell these loans at a much lower price.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Lenders write off problem loans of about $75 billion: despite disposals, difficulties still may plague the banking industry as new troubles arise
Article Abstract:
Japan's top 19 lending institutions have written off some 10 tril yen in problem loans in the year ending March 1998. The 10 tril yen writeoff is part of the estimated 11 tril yen problem loans that have little chance of recovery. According to the Finance Ministry, another 65.3 tril yen in loans have questionable recovery prospects, for a total of 76.3 tril yen in problem loans.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Comment about this article or add new information about this topic:
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