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8332 - Bank Of Yokohama News Story

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Last Trade - 28/03/16

Sector
Financials
Size
Large Cap
Market Cap £3.49bn
Enterprise Value £-11.70bn
Revenue £2.12bn
Position in Universe th / 3864

Japan Post Bank picks veteran regional banker as president

Fri 25th March, 2016 8:07am
TOKYO, March 25 (Reuters) - Japan Post Bank  7182.T  said on 
Friday it has named Norito Ikeda, veteran regional banker, as 
successor to President Masatsugu Nagato, who becomes the chief 
of the parent company. 
    The job of Japan Post Bank president has been becoming only 
tougher, as the bank, the biggest in Japan with a $1.8 trillion 
portfolio, faces diminishing investment returns, which has been 
made worse by the Bank of Japan's negative interest rate policy. 
    The top manager also needs to court its smaller rivals, 
which see the bank as a grave threat to their survival. After 
its initial public offering in November, the bank has been 
seeking to establish business ties with regional lenders. 
    Ikeda, 68, started his career at Bank of Yokohama Ltd 
 8332.T , one of the largest regional lenders in Japan. He also 
served as president of Ashikaga Bank, another regional lender. 
    Currently, he is president of a state-backed entity tasked 
with helping businesses hit hard by the massive earthquake and 
tsunami in March 2011. His appointment at Japan Post Bank is 
effective on April 1. 
    Current President Nagato is replacing Japan Post Holdings Co 
 6178.T  CEO Taizo Nishimuro, who has been hospitalised since 
last month for unspecified tests.  urn:newsml:reuters.com:*:nL3N16O31Y 
     
     
($1 = 112.9200 yen) 
 
 (Reporting by Taiga Uranaka; Editing by Michael Perry) 
 ((taiga.uranaka@thomsonreuters.com; +81-3-6441-1813; Reuters 
Messaging:  taiga.uranaka.reuters.com@reuters.net)) 
 
Keywords: JAPAN POST BANK CEO/
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