Negative interest rates; withering net interest margins; an ageing and shrinking population; low consumer and corporate confidence: these are just some of the obstacles that Japan's mega-banks – Mizuho Financial Group, Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Financial Group (SMFG) – are coming up against in their home market.
As the negative interest rate policy set by the central bank, the Bank of Japan (BoJ), squeezes revenue sources at home, local banks are expanding aggressively abroad.
