Asia, with its huge thirst for capital and infrastructure investment, will be an area of increasing importance for Japanese financial institutions in the years ahead, according to the chairman of Fuji Bank.
Asia has the potential to log continued economic growth and it is only natural for banks to expand their lending business in the area, Toru Hashimoto said in a recent interview. "But because Japanese banks would be facing fierce competition from their American and European counterparts in Asia, it is imperative for them to accelerate the writeoff of their bad loans and work to offer better financial products and services," he said.
Hashimoto will participate in round-table discussions at a seminar on developing Asian financial markets to be held in Fukuoka on Saturday, jointly organized by the Asian Development Bank and the Institute of International Finance. The seminar is one of the events slated for the ADB's annual Board of Governors Meeting.