Shinsei Bank said Monday that its group net profit fell 13.4 percent in fiscal 2002 to 53.03 billion yen.
It attributed the decline to losses on U.S. bond investments and shrinking corporate loans.
Operating profit from the firm's core banking business, a key gauge of profitability before taxes and loan-loss charges, fell 29 percent to 41.77 billion yen. The bank logged an operating profit of 58.81 billion yen in fiscal 2001, Shinsei officials said.