Rakuten Bank to Refrain From JGB Buying as More Rate Hikes Seen
The lender, a unit of Japan's e-commerce giant Rakuten Group Inc., has seen its total deposits almost triple from five years ago to ¥11.7 trillion ($79 billion) at the end of June, as its online banking services attract more customers. While the deposits are dwarfed by those of Japan's biggest lenders, Rakuten Bank's fast-growing cash pool is pushing it to look for investments.
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