Gov't orders Towa Bank to improve operations over shady lending

Gov't orders Towa Bank to improve operations over shady lending

MAEBASHI, Japan - Towa Bank President Kunimitsu Yoshinaga (2nd L) and other bank executives bow in apology at a news conference in Maebashi, Gunma Prefecture, on Oct. 12 after the Financial Services Agency ordered the Gunma-based regional bank to improve its operations, charging that the bank had persisted in lending money to financially struggling companies despite knowing of their situation.

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  • ILEA001124490
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