Norinchukin Bank enhances CET-1, Tier 2 capital
The move comes with “strong support” from its member cooperatives, the Japanese bank said.
Norinchukin Bank will get a CET-1 capital increase of JPY41.1b on 31 March 2025.
The move comes “with strong support from its member cooperatives,” the Japanese bank— and 22nd biggest bank in the Asia Pacific based on assets— said in a statement posted on its website.
In addition, Norinchukin Bank has resolved to increase the total issuance amount of fixed-term subordinated loan (Tier 2 capital) to its members to JPY642.8b.
Of this, JPY141.9b yen was issued on 29 November 2024, whilst JPY500.8b is scheduled to be issued on 28 March 2025.
“With the series of its capital enhancements during this fiscal year, the bank will steadily improve its investment portfolio and pursue initiatives to establish an even more robust profitability base,” Norinchukin Bank stated.
Norinchukin Bank’s recent financial results for the first half of FY2024, ended 30 September, saw it log a net loss of approximately $5.75b.
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