Reported 4 months ago
Rakuten Bank Ltd.'s CEO expects the Bank of Japan to raise rates later in 2024, following the removal of its negative interest rate policy in March. The CEO believes this move will significantly boost profits for the online financial firm, particularly due to the yen's decline against the dollar. Despite potential risks like increased defaults, the CEO remains confident in the bank's ability to manage them with AI-driven credit screening. Rakuten Group Inc., the parent company, is considering reorganizing its fintech subsidiaries to generate more cash, with talks set to conclude in October, although the deal must benefit minority shareholders of Rakuten Bank as well.
Source: YAHOO