Under pressure to get to the bottom of their bad loans, six major banks tripled their bad loan disposal projections for fiscal 2001 in revised business plans submitted to financial regulators Thursday.
The six banks together reported that credit costs will rise to 1.2 trillion yen for the year ending March 31, 2002, up from the 359.9 billion yen forecast in 1999, when the banks received an injection of public funds to help bad loan writeoffs.
The Financial Services Agency announced the same day that banks' so-called risk-management loans as of the end of March grew from a year earlier, totaling 31.8 trillion yen.