Rot
HAVE two of the rottenest apples been taken out of the barrel of Japanese banking? On April 1st (ouch!), and after many leaks, Nippon Credit Bank, Japan's 17th largest, finally announced that it would abandon its international operations and contract its domestic ones. Its president will resign. On the same day, Hokkaido Takushoku, the smallest of Japan's ten top commercial banks, announced that it would merge with Hokkaido Bank, its cross-town rival in Sapporo.
This article appeared in the Finance & economics section of the print edition under the headline “Rot”
From the April 5th 1997 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Finance & economics
China meets its official growth target. Not everyone is convinced
For one thing, 2024 saw the second-weakest rise in nominal GDP since the 1970s
Ethiopia gets a stockmarket. Now it just needs some firms to list
The country is no longer the most populous without a bourse
Are big cities overrated?
New economic research suggests so
Why catastrophe bonds are failing to cover disaster damage
The innovative form of insurance is reaching its limits
“The Traitors”, a reality TV show, offers a useful economics lesson
It is a finite, sequential, incomplete information game
Will Donald Trump unleash Wall Street?
Bankers have plenty of reason to be hopeful