The Financial Express February 07, 2002
Japan banks in crisis after stock market crash Tokyo, February 6: Calls for public funds for Japan's top banks are mounting as Tokyo's stock market plunges, with the losses in banks' share portfolios eroding their capital to levels where critical capital adequacy ratios risk being breached. Most top banks expect to post losses for the current business year ending March 31 and their efforts to expand revenue paths and boost profitability are unlikely to show quick results because of their painfully slow progress in restructuring. Top banks have already put aside a combined 6.4 trillion yen ($47.80 billion) this business year in loan-loss charges against shaky borrowers. These costs can only grow as the economy deteriorates and stock losses will add to the burden. - Reuters � 2002: Indian Express Newspapers (Bombay) Ltd. All rights reserved throughout the world.
