Japan megabank loan margins dive to barely 1%
The BOJ faces criticism from bankers and lawmakers as evidence mounts that negative rates are doing little to spur credit growth
Tokyo
IT'S never been tougher for Japanese banks to make money from lending and the squeeze may worsen as traders bet on years of negative benchmark interest rates.
Profit margins on loans at Mitsubishi UFJ Financial Group Inc and its two largest competitors shrank to a record-low one per cent on average in the quarter started April 1, for which they reported a 28 per cent drop in combined net income.
TRENDING NOW
Easy to rent out, hard to sell: Are buyers losing interest in Singapore’s one-bedroom condos?
GovTech retrenches another 38 staff in second round of layoffs
Stocks to watch: Seatrium, CapitaLand Investment, Keppel DC Reit, Suntec Reit, CLCT, TSH Resources
World’s largest offshore wind platform by Seatrium consortium on track to be completed by 2028
