SBI Shinsei Bank, Limited (株式会社SBI新生銀行) is a diversified Japanese financial institution that provides a full range of financial products and services to both institutional and individual customers. It is owned by SBI Group and headquartered in Chuo, Tokyo.[5] It results from the 2000 rebranding of the former Long-Term Credit Bank of Japan, under new ownership.
History
SBI Shinsei Bank is the successor of the Long-Term Credit Bank of Japan (LTCB), which had a government monopoly on the issuance of many long-term debt securities. Following the collapse of the Japanese asset price bubble in 1989, the bank was riddled with bad debts: the government nationalized it in 1998, and it was delisted from the Tokyo Stock Exchange. After several proposed mergers with domestic banks, LTCB was sold to an international group led by US-based Ripplewood Holdings in March 2000 for ¥121 billion ($1.2 billion U.S.), the first time in history that a Japanese bank came under foreign control.[6] Investor Christopher Flowers also played a major role in the buyout syndicate and remained a key shareholder of the company until August 2019, when the Japanese government acquired the shares held by his fund.