Norinchukin Posts $12.6 Billion Loss as Bank Eyes Path to Profit
Norinchukin Bank reported a ¥1.8 trillion ($12.6 billion) loss for the year ended in March after dumping billions worth of Treasuries and other foreign bonds.
The agricultural lender said it expects profit of between ¥30 billion to ¥70 billion for the current fiscal year as it ditched unprofitable holdings and revamped its securities portfolio, sticking to a previous estimate.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
39 minutes ago
- Bloomberg
Rally in Indian Bonds Loses Momentum After RBI's Surprise Moves
A rally in Indian bonds is stalling after the central bank raised the bar for future interest-rate cuts and on concerns that it may start curbing excess liquidity in the banking system. The yields on the five-year and 10-year bonds jumped more than 20 basis points and six points respectively this week, reversing some declines in the current quarter. This came after the Reserve Bank of India unexpectedly shifted its policy stance to neutral from accommodative last week, warning that it has ' very limited space' left for further easing.
Bloomberg
an hour ago
- Bloomberg
Tencent Said to Study Deal for $15 Billion Game Developer Nexon
Tencent Holdings Ltd. is studying a potential deal for Nexon Co., as the Chinese internet giant looks for ways to bolster its lucrative gaming operations, people with knowledge of the matter said. Shenzhen-based Tencent has reached out to the family of Nexon's late founder Kim Jung-ju to discuss the possibility of an acquisition, the people said, asking not to be identified because the information is private. Kim's family has been speaking to advisers and evaluating options, according to the people.
CNN
an hour ago
- CNN
Inside the race to get goods out of China
CNN's Kristie Lu Stout gets exclusive access on board a US-bound container ship in Hong Kong's port, the frontlines of China's 'export rush' chaos as the clock ticks down on a 90-day pause on US tariffs imposed on Chinese goods.
