Two major banking groups that announced their earnings results for fiscal 2000 Thursday showed diverging strategies as they strove to balance mounting bad loans with immediate earnings.
After briefly emerging above water last year, the three banks of the Mitsubishi Tokyo Financial Group let unconsolidated pretax profits dive 226.9 billion yen into the red for fiscal 2000, after tallying bad-loan writeoffs of 741.3 billion yen.
The writeoffs were roughly twice the amount projected at the beginning of the year.