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Shinsei Bank has reported a record group net profit of 76.01 billion yen for the fiscal year to March 31, up 12.8 percent from a year earlier.

In its consolidated earnings report for fiscal 2005, Shinsei said Tuesday its pretax profit expanded 31.3 percent to 71.47 billion yen on operating revenues of 529.06 billion yen, up 112.8 percent from the year before.

The bank posted 69.1 billion yen in operating profit, up from 54.9 billion yen the previous year.

Operating profit is equal to the sum of profits at the bank’s core banking operations before loan-loss provisions and taxes are deducted.

The balance of Shinsei’s nonperforming loans fell to 42.5 billion yen as of March 31 from 46.1 billion yen as of Sept. 30, 2005.

The ratio of bad loans to total lending fell to 1.03 percent, compared with 1.16 percent six months earlier.

The bank’s capital adequacy ratio stood at a preliminary 15.53 percent on a consolidated basis, up from 11.78 percent at the same time last year.

Banks operating internationally must maintain a capital adequacy ratio of at least 8 percent.