MBK---------Bank of Tokyo Mitsubishi Ltd Message Board

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Non-Tech : MBK---------Bank of Tokyo Mitsubishi Ltd

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To: Paul Berliner who wrote (88)	11/2/1998 12:36:00 AM
From: Steve Horwitz	Read Replies (1) of 170

How would MBK be perceived? I think the perception will be positive. Look, you're taking an extremely dour view of MBK, which, you'll agree, is still the strongest of the 18 largest Japanese banks. Of all the 18, MBK has been the only one strong enough to mark its portfolio to market instead of that bullshit reliance on cost. This suggests that management has more reason to be confident about the bank's future than do any of its rivals. Also, MBK has the most transparent loan portfolio. They're not booking phantom loan payments on class 3 (non-performing and in arrears) or class 4 (unrecoverable)as have the rest of the bunch. The rationale for buying MBK is that Japan will have a commercial banking system when it recovers (note, I'm not predicting imminent recovery) and MBK will be the best of the survivors. I like that scenario. Taking money from Tokyo is only going to make MBK stronger, for it less than any of its competitors needs the cash.

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