Shinsei Bank said Friday it posted group net profits of 61.3 billion yen for the year to March 31, down 32.3 percent, as it booked loan-loss charges of 2.7 billion yen on a parent-only basis.

The bank, the reborn Long-Term Credit Bank of Japan, logged group pretax profits of 39.46 billion yen, down 58.7 percent, on group operating revenues of 235.97 billion yen, down 21.2 percent.

Group per-share net profits came to 21.11 yen, compared with 31.87 yen the previous year.

The Tokyo-based lender said it booked loan-loss charges totaling 2.7 billion yen, reducing the balance of outstanding bad loans to 1.114 trillion yen as of March 31, both on a parent-only basis.

The bank registered unconsolidated operating profits of 64.08 billion yen from its core banking business, up 25.32 billion yen. The before-tax core gauge of underlying banking profitability excludes most bad-loan writeoffs.

Its consolidated capital-adequacy ratio stood at a preliminary 17.04 percent as of March 31, up from 16.99 percent the preceding year and well above the 8 percent level required by the Bank for International Settlements for banks operating internationally.

For the current year through next March, Shinsei forecasts consolidated net profits of 63 billion yen and pretax profits of 63 billion yen.

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