Japanese Banks Expand To Ranks of World's Biggest Energy Lenders
Mizuho said its bad debts in the energy and resource sector totaled about $279 million as of March. “Even based on oil prices at the moment, we’re absolutely not seeing the recording of any major concentration of credit costs,” Mizuho’s President Yasuhiro Sato said at a May 13 briefing on the bank’s financial results.
“I don’t think we need to be worried at the current point in time,” said Nana Otsuki, chief analyst at Monex Group Inc., a Tokyo-based online securities firm. “But we’ll need to watch risks more carefully next year, particularly if there are any movements in the price of oil."
--With assistance from Shingo Kawamoto. To contact the reporters on this story: Asjylyn Loder in New York at aloder@bloomberg.net; Gareth Allan in Tokyo at gallan11@bloomberg.net To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net Dan Stets, Russell Ward
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