SBI and Fukushima Bank form a capital and business alliance Internet finance and regional bank unique alliance November 11th 13:40
We have officially announced that SBI Holdings, which handles a wide range of securities, banking and insurance online, and Fukushima Prefecture's regional bank “Fukushima Bank” will form a capital and business alliance. As regional banks become increasingly difficult to manage due to low interest rates and a declining population, attention is being paid to whether the combination of fintech-based internet finance and regional banks can improve the profit environment of the financial industry.
According to the announcement, SBI Holdings, a major internet financial company, agreed to acquire a new share issued by Fukushima Bank for approximately 1.1 billion yen and form a capital and business alliance on the 11th.
As a result, SBI will become the largest shareholder with over 19% of Fukushima Bank's shares in the group, and will send one officer in the future.
SBI has strengths in fintech combined with finance and IT, and aims to develop local customers through partnerships.
In the future, Fukushima Bank will provide its customers with investment trusts and mortgages that SBI handles through jointly operated stores, while aiming to strengthen profitability by reducing costs.
In September, SBI decided to form a new financial network in line with major banks in cooperation with regional banks nationwide. In September, SBI decided to form a capital and business alliance with Shimane Bank in Shimane Prefecture.
Regional banks nationwide continue to face harsh management conditions due to prolonged low interest rates and population decline, and local banks continue to work together. It will be noticed whether it can be improved.