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SBI Sumishin Net Bank sets up branch for mortgage loans

Internet-only bank SBI Sumishin Net Bank Ltd. has opened a bricks-and-mortar branch in Tokyo to sell mortgage loans, The Nikkei reported Jan. 26.

SBI Sumishin Net Bank cited mortgage loan customers who prefer face-to-face relationships with banks before signing contracts as a contributing factor in the online lender's decision to set up its first physical shop.