Rakuten Group announces plan to integrate bank, fintech units

Rakuten

01/04/2024 04:43

TOKYO, April 1 (Reuters) - Rakuten Group  4755.T  said
on Monday it planned to integrate its bank, credit card and
other fintech businesses into one group.
    Rakuten Group and Rakuten Bank entered into a memorandum of
understanding on the reorganisation, which is expected to take
effect in October, the companies said in releases. Rakuten Bank
would continue to be listed on the Tokyo exchange even after the
integration, they said.

 (Reporting by Rocky Swift; Editing by Jacqueline Wong)
 ((rocky.swift@thomsonreuters.com;))