The three banks which created the new “superbank” Mizuho in September have reported mixed half-year earnings. Dai-Ichi Kangyo Bank, Fuji Bank (both of which have factoring subsidiaries) and the Industrial Bank of Japan have all been struggling to shed bad loans in the light of increasing rates of corporate bankruptcy.
Results for six months to September 2000
Bank
Net Profit (Yen billion)
% change on 1999
Problem loans (Yen billion)
Fuji
62.5
124
1.23
DKB
55.2
53
1.49
IBJ
31.1
-34
1.42
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