The operations of foreign bank branches in Japan dropped significantly in the year to end March 2005 with aggregate ordinary earnings falling by 23% to ¥69bn ($643m), according to KPMG’s Foreign Bank Branches in Japan Survey 2005.
The annual survey by the global financial services group shows that the number of foreign branches in Japan decreased by three during the year to 69 while aggregate total assets declined by 16% to ¥44,716bn. The survey ranks the 69 branches by assets, ordinary earnings and expense/income ratio. Citibank tops the assets ranking with ¥58,888bn, well ahead of Deutsche Bank with ¥49,259bn. The subsequent eight banks in the top 10 were, BNP Paribas, UBS, Rabobank Nederland, ABN AMRO Bank, Barclays Bank, Calyon Corporate and Investment Bank, Société Générale and JPMorgan Chase Bank.