Local News

Ten Kyushu Shinkin Banks Lose Money


The 29 shinkin banks in the seven Kyushu prefectures released their financial statements for the year ending March 2009, which showed that 10 lost money and 13 suffered profit declines. Taken together, all 29 of the banks recorded an aggregate of 9.7 billion yen in losses, 3.8 times higher than the year-before period. The poor performance is attributed to the economic crisis and stagnant regional economies.

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Published: Jul 23, 2009 / Last Updated: Jul 23, 2009

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