Nippon Credit Bank will not hesitate to ask the government to buy back loss-incurring loans if necessary, top executives said Monday, as the newly privatized bank began its first day of operations.
Ownership of the formerly nationalized NCB was transferred to a consortium led by Internet investor Softbank Corp. on Friday. The bank held shareholder and board meetings Monday, appointing a new management team as well as a new operating policy.
Tadayo Honma, a former executive director of the Bank of Japan, was appointed president of the new NCB. Other executives include Softbank President Masayoshi Son, Kokei Higuchi, president of Tokio Marine & Fire Insurance Co., and Yoshihiko Miyauchi, chairman of Orix Corp.