The chief executive officer of the newly privatized Long-Term Credit Bank of Japan has vowed that he will strive to transform the institution into a highly profitable commercial bank, utilizing high-level expertise from western financial institutions.
Masamoto Yashiro, chief executive officer of the new LTCB, told a news conference on Friday that the bank will aim to achieve a net business profit of 47.8 billion yen in two years and 68.6 billion yen in three years.
The targets compare with an estimated 43 billion yen loss for the current fiscal year that ends March 31.