Shinsei Bank said Wednesday that its outstanding bad loans as of March 31 will likely come to 233.2 billion yen, down 880.4 billion yen -- or nearly 80 percent -- from a year earlier.
The figures were calculated in accordance with the definition of bad loans under the financial revitalization law, Shinsei Bank said in releasing the latest forecast of its business performance during the year that ended March 31.
The bank revised downward its estimated parent-only operating profit from its core banking business to 45 billion yen from a previous forecast of 48 billion yen in November, but maintained its forecast of 59 billion yen in unconsolidated net profit.
The bank also said its consolidated capital adequacy ratio will likely stand at around 20 percent as of March 31, up from 17.04 percent a year before and well above the 8 percent required for internationally active banks.
Shinsei Bank is the reborn Long-Term Credit Bank of Japan, having made a fresh start in June 2000 after being sold to an international consortium led by U.S. investment firm Ripplewood Holdings LLC.
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