Financial Insights That Matter
TOKYO — Japan’s SBI Shinsei Bank will pay back 100 billion yen ($646 million) in government bailout funds by the end of March, Nikkei has learned, taking a key step toward its goal of relisting on the Tokyo Stock Exchange.
The Japanese government poured a total of roughly 370 billion yen into SBI Shinsei’s predecessor, Long-Term Credit Bank of Japan, in 1998 and 2000 to rescue the troubled lender. Government agencies currently hold a 22.64% stake in SBI Shinsei.