ShinGinko Tokyo Ltd., a bank set up by the Tokyo Metropolitan Government, will open for business on 1 April, said the Governor of Tokyo.
It will initially begin operations at its headquarters, including providing loans to and accepting deposits from small- and medium-sized enterprises (SMEs).
It will gradually open five branches in Tokyo and start full-scale operations in July, according to Ishihara.
Metropolitan Government invested Y100 billion (US$950.21m) to found the bank in an effort to support smaller companies and last April set up a firm to prepare for its opening.
Source: Asia Pulse
