Departures of bankers in Tokyo flag retreat of foreign lenders
Tokyo
DEPARTURES of Tokyo-based loan executives from Citigroup Inc and General Electric Capital Corp highlight the retreat of foreign banks from Japan's lending market.
Nobuhiko Ito, head of acquisition finance and syndicated lending at Citigroup in the capital, and Masahiko Horiba, an executive director in GE Capital's structured finance unit, both said last month that they are stepping down. Outstanding loans by foreign banks dropped to a record low 1.846 trillion yen (S$21.1 billion) in November as borrowing costs slump, Bank of Japan data going back to 1995 show.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover