Non-performing loans piled up at Japan megabanks in 2020
Bad loan ratio climbed 10 basis points on average across MUFG, SMFG and Mizuho
Mizuho Bank, Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Financial Group (SMFG) – Japan’s three megabanks – all disclosed higher levels of bad loans at end-December than 12 months’ prior, reflecting the impact of the coronavirus on the country’s economy.
The ratio of non-performing loans (NPLs) to total loans at Mizuho climbed the highest of the three, to 86 basis points at the end
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