Shinsei’s 1H Results in Line, but Consumer Lending Growth was too Small to Reduce Earning Pressures
No-moat-rated Shinsei Bank reported its semiannual results below street estimates for the period ended Sept. 30. In line with our estimates, the results remain weak although the group saw some one-off trading profits from reducing its Japanese Government Bond, or JGB, Â holdings in its treasury division. The results do not impact our long-term views the bank remains under earning pressures to repay the government from an earlier capital injection.We maintain our fair value estimate of JPY 150 pe...
Shinsei Bank is a financial institution providing a full range of financial products and services to both institutional and individual customers with total asset of Y9,456,660 million and 28 branches as of Mar 31 2018. Along with its subsidiaries, Co. provides services and solutions including corporate, financial institutions and public sector finance; real estate finance; project finance; specialty finance; business succession finance; leasing business; market business; asset management; wealth management; securitization; fundraising; risk hedging; retail banking; consumer finance; and ALM (asset and liability management) operations.
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