Daiwa to buy Orix Bank for $2.3 billion in lending expansion

Daiwa Securities acquires Orix Bank for $2.3 billion, aiming to build a ¥9 trillion lending giant and boost deposits by ¥2 trillion. | Contesto: cronaca

Punti chiave

• Daiwa to buy Orix Bank for $2.3 billion in lending expansion

Contesto

Daiwa Securities Group has agreed to acquire Orix Bank for approximately $2.3 billion, marking a major consolidation in Japan’s financial sector as the brokerage giant pushes aggressively into commercial lending. The deal, announced Tuesday, will create a combined entity with roughly ¥9 trillion in total assets, positioning Daiwa to compete more directly with traditional banks in the deposit-taking and loan markets. Under the terms of the agreement, Daiwa will purchase all outstanding shares of Orix Bank from its parent company, Orix Corporation, a diversified financial services group. The acquisition is expected to close by the end of this year, pending regulatory approvals. The ¥9 trillion asset base will make the new entity one of the larger regional banking players in Japan, though still far behind the megabanks that dominate the industry. The merger is part of Daiwa’s broader strategy to diversify its revenue streams beyond securities brokerage and investment banking, which have faced margin pressure in a low-interest-rate environment. By adding Orix Bank’s retail and corporate lending operations, Daiwa aims to capture a larger share of household deposits and small-business loans. The combined group has set a target to expand deposits by more than ¥2 trillion over the next five years, a goal that analysts say is ambitious but achievable given Orix Bank’s existing customer base. Orix Bank, a subsidiary of Orix Corporation, has focused on niche lending segments including real estate finance and auto loans. Its integration into Daiwa will provide the securities firm with a ready-made branch network and a deposit base that can be used to fund new loans at lower cost. The deal also reflects a broader trend in Japan’s financial industry, where securities companies and regional banks are increasingly seeking scale to offset shrinking margins from traditional fee-based businesses. For Orix Corporation, the sale allows it to streamline its portfolio and concentrate on its core leasing, real estate, and insurance businesses. The parent company said it would use the proceeds from the sale to invest in growth areas such as renewable energy and infrastructure. The...

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Categoria: cronaca