Shinsei Bank Ltd., the lender that bought General Electric Co.'s Japanese consumer finance businesses, aims to use low-cost bank deposits to boost profit from consumer loans.
"The line between the consumer finance business and retail banking is all going to get blurred; it's all going to converge," Sanjeev Gupta, chief operating officer of Shinsei's retail and consumer finance businesses, said in an interview Wednesday.
Consumer finance "is a very profitable business if you can fund it with low-cost, stable retail funding," Gupta said.