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The work-from-home phenomenon during the pandemic is providing an unexpected boon for one of Japan’s biggest mortgage lenders.

Resona Holdings Inc. is enjoying a surge in demand for credit from homebuyers seeking larger properties in the suburbs, where the bank has a strong presence, President Masahiro Minami said. Its mortgage loans climbed 6.5% to ¥1.3 trillion ($12 billion) in the year ended March, the highest in at least three years.

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