Asahi Bank announced Friday that its efforts to write off 50 percent more of its nonperforming loans than initially targeted will result in a consolidated net loss of 10 billion yen for the business year ending March 31.
In addition, bank officials said Asahi will scale down all but its retail banking businesses.
It will cut 20 percent of its executive posts, slash executives' salaries and close 15 percent of its offices by the end of March 2003, officials said.
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