Rot
HAVE two of the rottenest apples been taken out of the barrel of Japanese banking? On April 1st (ouch!), and after many leaks, Nippon Credit Bank, Japan's 17th largest, finally announced that it would abandon its international operations and contract its domestic ones. Its president will resign. On the same day, Hokkaido Takushoku, the smallest of Japan's ten top commercial banks, announced that it would merge with Hokkaido Bank, its cross-town rival in Sapporo.
This article appeared in the Finance & economics section of the print edition under the headline “Rot”
From the April 5th 1997 edition
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