Japanese megabanks to raise mortgage interest rates amid policy shifts
Floating interest rates on housing loans, tied to the short-term prime rate, are expected to see increases.
Mizuho Financial Group
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Major Japanese banks ditch seniority-based pay amid growing competition for talent
Japanese banks have adhered to a rigid seniority-based structure, where employees were rewarded with promotions and salary increases based on their length of service rather than performance.
Mizuho Bank with new pair loan insurance product amid Tokyo’s soaring property prices
In July, Mizuho Bank launched a pioneering pair-loan group credit insurance product in collaboration with Dai-ichi Life Insurance Co. This new offering is designed to alleviate the burden of mortgage repayments in the event of a borrower’s death or if they are diagnosed with cancer. Under this insurance scheme, the outstanding mortgage balance is effectively cleared if one of the borrowers passes away, ensuring that the surviving partner is not left with the full debt.
Japan’s Topix index reaches record high amid surge in banks and automakers
The Tokyo Stock Price Index (Topix) hit a record high as Japan’s banking and automotive sectors experienced significant gains, reflecting robust economic growth and investor optimism in key industries.