trending Market Intelligence /marketintelligence/en/news-insights/trending/q9v8UQH-29NISSIlSNncfA2 content esgSubNav
In This List

Shimane Bank to transfer trust, securities business to SBI Securities

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


Shimane Bank to transfer trust, securities business to SBI Securities

Japanese regional lender Shimane Bank Ltd. agreed to transfer its investment trust and securities business to SBI Securities Co. Ltd. as part of a capital and business alliance.

The companies are slated to sign an agreement in February, with Shimane Bank's investment trust and securities accounts to be transferred to SBI Securities in the first half of fiscal 2020, according to a Jan. 21 release. SBI Securities will entrust Shimane Bank with selling financial products through its branches.

SBI Securities parent SBI Holdings Inc. agreed to invest about ¥2.5 billion in Shimane Bank in September 2019. The partnership is part of SBI Holdings' strategy to revitalize Japan's ailing regional banking sector through capital alliances with local lenders.

As of Jan. 20, US$1 was equivalent to ¥110.16.