IYBank Co., a newcomer to the banking industry, said Friday it suffered net losses of 5.7 billion yen in the fiscal 2001 first half as the bank cut fees and expanded its network of automated-teller machines.
The bank, which generated revenue of 34 million yen, also posted a 4.7 billion yen net business loss for the period.
In the business year through the end of March 2002, the bank expects to log a net loss of 13.2 billion yen.
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