Japan

These platforms digitalise LC workflow and issuance.

The lender will digitize over 300 million pages of paper forms stored in warehouses.

It will follow-up on the BOJ’s efforts in this field.

The FSA has targeted some local lenders for “intensive dialogue”.

Pandemic-struck companies turn to loans to meet funding needs.

The Financial Services Agency has let go of its bank inspection manual.

NPLs will rise as SME default rates stack up.

The move contrasts the downsizing planned by other global firms HSBC and Deutsche.

It could push Japanese banks to live up to promises of ending the practice.

In the transitional period from the unprecedented emergency to the new normal, the Japanese and APAC financial institutions have stepped up their countermeasures.

Annual default rates of credit card purchase rose to 6% in March from only 4.4% last year.

But it does not solve the long-term problem of weakening profitability.

This marks London-based PPRO’s entry to the Japanese e-commerce market.

It also expects 6,000 job losses by that year.

Borrowings by COVID-hit firms spurred the jump.

The fund is for companies engaged in R&D and manufacture of therapeutic drugs and vaccines.