PSA Financial Services: SBI Holdings (8473 JT) – Migrating from Star B...

Pelham Smithers reviews the changing face of SBI Holdings. The firm is widely viewed as an online broker with other financial services tagged on. In fact, broking is not its biggest business, instead, it is now banking that accounts for over 50% of core profits. This report explains how the firm developed into the entity it is today and outlines the future value of the SBI Shinsei listing, with a compare and contrast to Rakuten Bank. There is also talk of Ripple Labs being listed so that too nee...