Shinsei Bank said Friday that its net profit rose 25 percent to 66.4 billion yen in fiscal 2003.
Shinsei Bank attributed the net profit increase to a reduction in loan-loss reserves for nonperforming loans, as well as to a tax rebate resulting from an out-of-court settlement over a bank tax imposed by the Tokyo Metropolitan Government.
Shinsei Bank also said it boosted its profit through the investment banking business.
Operating profit from its core banking business, a key gauge of profitability before taxes and loan-loss charges, was 55.1 billion yen, up 14.9 billion yen from the previous year.