Japan: Shinsei Bank announces consolidated net income of JPY 53 billion for Fiscal 2002.

(From The Asian Banker Journal)

Shinsei Bank Limited today announced its financial results for the fiscal year 2002 (FY 2002), which ended on March 31, 2003.

Profit & Loss

Consolidated

For FY2002, Shinsei Bank posted consolidated Net Income After Tax of 53.0 billion yen, down from 61.2 billion yen in FY 2001. The decrease was partly due to an approximately 20 billion yen cost assoicated with the disposition and devaluation of US corporate bond investments reflecting the tough US economic environment. This decrease was off set by an increase in fees and commissions, higher trading income and net credit recoveries.

Consolidated Net Business Profit Before General Reserve …