It was found that Shinsei Bank, a subsidiary of SBI Holdings, is making final adjustments to change the company name to "SBI Shinsei Bank".

According to people familiar with the matter, Shinsei Bank has entered into final adjustments to submit a proposal to change the company name to "SBI Shinsei Bank" at the shareholders' meeting to be held next month.



Shinsei Bank was the predecessor of the former Long-Term Credit Bank of Japan, which went bankrupt, and changed its name to the current name in 2000 to proceed with business restructuring under an American investment company. It was under the umbrella of SBI Holdings.



Regarding this company name change, Shinsei Bank President Katsuya Kawashima said in an interview last month that "it is also important to show that the SBI Group will firmly face the future of Shinsei Bank," Shinsei Bank and SBI said. The aim is to strengthen cooperation with Group companies and strengthen the customer base.



To officially change the company name, in addition to the approval by the Financial Services Agency, the approval of at least two-thirds of the shareholders present at the general meeting of shareholders is required.



Shinsei Bank still has 349 billion yen of public funds that were once invested by the government, and the issue is whether it will be possible to show a path for repayment at an early stage by cooperating with the SBI Group.

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