Jun 24, 2013
Tokyo, June 21st 2013 - Shinsei Bank, Limited (“Shinsei Bank”; the “Bank”) today announced that effective July 1, 2013, it will be forming the “Shinsei Principal Investments Group” (the “Shinsei PI Group”) through the integration of Shinsei Principal Investments Ltd., the Bank’s consolidated subsidiary, Shinsei Corporate Investment Limited, Shinsei Investment & Finance Limited, and Shinsei Servicing & Consulting Limited, which will come under the umbrella of Shinsei Principal Investments.
In line with the fundamental strategy of the Second Medium-Term Management Plan (“Second MTMP”) commenced in April 2013, the Bank has decided to transfer the key functions of credit trading and private equity business from the Principal Transactions Sub-Group of the Bank to the newly consolidated subsidiary in order to further strengthen the restructured consolidated subsidiary with the aim of deploying a new financial solution business. Through this new business, the Bank seeks to upgrade its ability to flexibly respond to the needs of customers, while at the same time maximizing the profit of the Shinsei Bank Group’s earnings.
No revisions will be made to earnings forecasts (consolidated and non-consolidated bases) for the current fiscal year as a result of the launch of the Shinsei PI Group.
Click here to read the full press release.
Re-disseminated by The Asian Banker