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
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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.
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