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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (34478)	11/30/1999 10:03:00 PM
From: Don Green	Respond to of 99985

More and more banks are reporting major turnarounds in their earnings. ( Similar to U.S. Saving and Loans in the early 90's) Dec 1, 1999 Musashino Bank Interim Pretax Profit Leaps Sevenfold URAWA (Nikkei)--Musashino Bank (8336), a regional bank located in Saitama Prefecture, said pretax profit jumped 636.1% on the year, to 4.43 billion yen, in the fiscal first half ended Sept. 30. Current income fell 23.1% to 32.06 billion yen, but the company enjoyed a lighter burden from writing off stock losses thanks to the recovery of the stock market. Net profit swelled 304.2% to 2.29 billion yen. Due to an expanding volume of transactions with individuals and small businesses, the bank hopes to return to the black on a net basis in the full fiscal year ending March 2000. ==================================================== Towa Bank Pretax Profit Jumps 58% In First Half MAEBASHI (Nikkei)--Towa Bank (8558) said pretax profit jumped 58% on the year to 2.84 billion yen in the fiscal first half ended Sept. 30. Due to overhead reductions and the sale of bond holdings, this is more than 1.3 billion yen greater than initially forecast. Due to a capital increase, the bank's capital adequacy ratio rose 2.88 percentage points from March 31 to 8.34% at the end of September. For the full year ending March 2000, the bank sees pretax profit jumping to more than 2.5 times the level of a year earlier, to 4.5 billion yen. (The Nikkei Financial Daily Wednesday edition) (The Nikkei Financial Daily Wednesday edition)