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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (915)	8/2/2002 11:29:57 AM
From: Les H	Read Replies (2) \| Respond to of 49874

Bad loans at Japan's banks balloon to 42 trillion yen Fri Aug 2, 4:16 AM ET TOKYO - Bad loans at Japan's banks ballooned to 42 trillion yen (dlrs 353 billion) in March, the government said Friday, underlining an ailing financial sector sinking deeper into debt amid a stubborn slowdown. The Financial Services Agency said that non-performing loans grew from 32.5 trillion (dlrs 273 billion) last March. The government has promised to clean up the bad debts at the banks. Despite efforts by banks to get rid of dubious debts, new loans keep going sour amid rising corporate bankruptcies in the troubled economy. The government has said the downturn has bottomed out, but it expects economic growth to stay flat for the fiscal year ending in March 2003.