R&I View: Misconduct of CFG`s Subsidiary Bank Revealed
(WorldNews Japan)

NEWS RELEASE Jul 17, 2018 R&I View: Misconduct of CFG`s Subsidiary Bank Revealed Rating impact will be marginal but governance improvement is a challenge Concordia Financial Group, Ltd. (Sec. Code: 7186, Issuer Rating: A+, CFG) announced on July 13 that its subsidiary The Higashi-Nippon Bank, Ltd. (no Issuer Rating assigned) received a business improvement order from the supervisory authority on the grounds of misconduct and related issues on internal control and business management practices. The authority stated that the bank engaged in business operations that impaired the interests of customers and provided improper loans, and also lacked...