Summary: Shinsei Bank Ltd.

Standard & Poors, May 2011

Abstract
The former Long-Term Credit Bank of Japan (LTCB) was renamed Shinsei Bank Ltd. (BBB+/Negative/A-2) in 2000 when the bank was privatized again, following a temporary nationalization in 1998. Shinsei focuses on providing retail and investment banking services, unlike its predecessor, which targeted traditional long-term corporate lending. In recent years, the bank has expanded its nonbank-related operations through the acquisitions of APLUS Co. Ltd. (now APLUS FINANCIAL Co. Ltd.), Showa Leasing Co. Ltd., Shinki Co. Ltd., and the former GE Consumer Finance Co. Ltd. (GECF; now Shinsei Financial Co. Ltd.) For the nine-month period ended Dec. 31, 2010, Shinsei's Individual Group, comprised of the retail banking business and consumer finance business, including Shinsei Financial and APLUS FINANCIAL, contributed 51% of gross...

Companies mentioned in this report are: Shinsei Bank Ltd.
Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Shinsei Bank Ltd.

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