Non-performing loans piled up at Japan megabanks in 2020
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 of Q4 2020 from 72bp in Q4 2019. Total loans amounted to ¥83.62 trillion ($794.6 billion) at end
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