Japan's four major banks post losses of $31bn for 2002
Japan's four largest banks have posted a combined ¥3.61 trillion ($30.9 billion) in losses for the 2002 financial year, following larger-than-expected losses in their cross-equity holdings amid slump in the country’s equity markets and their ongoing disposal of bad loans.
Despite the losses, the major banks managed to maintain their capital adequacy ratios above the 8% minimum as recommended by the Bank for International Settlements, largely due to a round of capital raising exercises earlier
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