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japan: bank services with a smile? japans banks are focusing on a huge retail push - a sign theyre fit again pedestrians wandering into mtfg plaza in tokyos hip shibuya district could be forgiven for thinking they are about to enter a chic boutique. the building was designed by an american architect and features an ultramodern, snow-white exterior embedded with thin strips of multicolored lights. but instead of designer brands, whats for sale is an array of home loans, mutual funds, insurance, annuities, brokerage services, and plain old savings accounts. just ask at the concierge desk. the banking supermarket is one of the first signs of a new strategic focus on retail customers by mitsubishi tokyo financial group inc. (mtf ). since the remodeled branch reopened in december, it has kept its rank as the banks busiest in japan. while financial one-stop shops are nothing new in much of the industrialized world, the concept is just now taking root in japan, where the biggest banks have traditionally catered to the needs of corporate clients at the expense of individuals. indeed, retail customers have long been subjected to unhelpful tellers, a poor selection of financial products at uncompetitive rates, and automated teller machines that shut down after 6 p.m. but after spending the 1990s digging themselves out of a pile of bad loans to japan inc., the major banks have suddenly seen the wisdom of emulating titans such as citigroup (c ) and hsbc holdings plc (hbc ), which are world leaders in retail. our first goal is to be the most profitable retail bank in the world, says tetsuya wada, a director in charge of mtfgs retail banking business. the second is to keep that no. 1 position for the next 50 years.wadas bravado is a result of mtfgs plan to execute a $29 billion friendly merger with ufj holdings inc., japans fourth-largest bank and the big bank most focused on retail services. although ufj had to fight off a hostile counterbid from sumitomo mitsui financial group inc. (smfg), the merger is now scheduled to be completed in october. it would make the new mitsubishi ufj the worlds largest bank, with $630 billion in assets.the big new investment in retail is one sign japans major banks have put most of their troubles behind them. the long hangover from nonperforming loans is all but over. as of december, merrill lynch & co. (mer ) estimates the bad loan ratio at japans major banks dropped to 3.8%, down from a peak of 8.4% in 2002. and after some serious belt-tightening, japanese banks now have the lowest cost ratios in the developed world, according to goldman, sachs & co. (gs ) yet bankers cant revert to the old ways of doing business. their best blue-chip clients are awash in cash and have less need for loans, while troubled borrowers have been cut off from fresh lines of easy credit. whats more, all-time-low interest rates in japan translate into puny profit margins.savings to be snagged so the big banks - mtfg, ufj, smfg, and mizuho financial group - are in need of a new business model. its about margins, says john sequeira, a partner at bain & co. in tokyo. lending to corporates isnt a good business to be in right now, so japans banks are looking elsewhere. where they are looking first is retail banking. the industry got some help in december from the government, which rescinded regulations that forbade direct sale of stocks and bonds to retail bank customers. that came on top of a decision three years ago to allow banks to market insurance products such as annuities. those reforms, plus government plans to scale back bank deposit insurance guarantees starting on apr. 1, are expected to free up some of the $13.5 trillion of personal assets in japan, over half of which is locked up in low-yield, long-term deposits, much of it in the postal savings system.standard & poors (mhp ) estimates that, on average, retail banking contributes no more than 30% of total profits at japanese banks, compared with 70% at bank of america corp. (bac ). the proportion for mitsubishi and ufj is just 15%, which the managers of the combined group hope to raise to 35% in the next few years. a big step toward that is the mtfg plaza in tokyo, one of nearly 100 such branches - out of a total of 712 slated to survive the merger with ufj - that the bank expects to open across japan by 2007. inside, each is split up into sections offering different services, usually including a comfy lounge for private bank clients and a satellite office of mtfgs house broker, mitsubishi securities.even before unveiling the remodeled branches, the bank had been turning its giant hull toward retail. in 2002 it formed mitsubishi securities, now japans fourth-largest broker, through the merger of four securities houses. the bank also has more than doubled the size of its home loan business since 2001, thanks in part to a high-profile meet mtfg tv ad campaign. and the bank was the first in japan to install biometric atm machines that scan customer palms to provide account access. mtfg charges customers $95 to register for the palm-scanning atms, which are an extra security option in addition to pin numbers. last year its earnings in retail banking totaled a respectable $902 million. while these services are very attractive to our clients, they are also very profitable, says wada.mtfgs rivals have been quick to respond to its retail push. mizuho has opened mizuho investors securities outlets at 31 of its 528 branches and plans to open 100. mizuho also acquired a 4.92% stake in nikko cordial securities inc. in december, with which it may seek to market more financial products. meanwhile, smfg - already the leading marketer of annuities, private pensions, and mortgages - has begun selling foreign bonds at all its branches. and smfg is in talks with daiwa securities group inc., japans no. 2 broker, about a merger.niceness training of course, remaking corporate cultures that have long been largely indifferent to individual customers wont be easy. mtfg is transferring 300 employees from mitsubishi securities to help train bank employees in the brokerage business. and it has also set up an internal retail academy which, among other things, teaches staff to be nicer to customers. the academy, which has already graduated some 1,500 staffers, offers a range of courses from a single day to one day a week over three months.not all industry observers believe that blurring the line between banks and other financial companies is such a wise move. they say banks risk overreaching as they rush to be all things to all customers. and they may have trouble beating established brokerages such as nomura securities co. at their own game. its hard to see the synergies from banking, the brokerage business, and insurance, says yoshinobu yamada, an analyst at merrill lynch japan securities co. (mer ) in tokyo. the one-stop shop isnt the answer.moreover, a real commitment to retail banking will require expensive new investment. goldman sachs estimates mitsubishi ufj would have to double its workforce, to 96,236, if it wants to provide the level of service to retail customers routinely provided by banks such as hsbc. what the banks talk about sounds all good and well in theory, but serious implementation would require significant investment in branches and people, says david atkinson, an analyst at goldman sachs in tokyo.whether japans big three can reinvent themselves as profitable full-service financial supermarkets remains to be seen. still, a shift toward more profit-driven growth, even if it is a bit awkward, signals the end of a long, painful period of retrenchment for japans banks.日本:微笑着银行服务?日本银行正专注于一个巨大的零售推- 一个适合他们再次签署行人进入广场游荡东京三菱金融集团在东京涩谷区的臀部可以原谅的思维,他们即将进入一个别致的精品。该建筑的设计是由美国建筑师设计,并配备了超现代的,雪白的外观与五彩灯光嵌入细条状。而是一个家庭贷款,共同基金,保险,养老金,经纪服务,和普通的储蓄账户阵列,而不是旧的设计师品牌,有什么可以转让的。 b问服务台。银行超市是一个新的零售客户的战略重点由三菱东京金融集团(mtf)的第一个标志之一。由于十二月重新开放了改造分支,它保留了其列为该银行在日本最繁忙的。虽然金融一站式服务是在工业化世界许多新鲜事,这个概念是刚才参加在日本,最大的银行在传统上迎合个人的开支,企业客户的需求的根源。事实上,零售客户长期受到无益的出纳员,一个没有竞争力的金融产品在利率差的选择,即自动关闭后,于下午6时后,花费了20世纪90年代不良贷款一堆自己挖了日本股价下跌取款机,各大银行也突然看到了模仿,如花旗集团(c)和汇丰控股(hbc)的,这是世界各国领导人在零售巨头的智慧。 “我们的首要目标是成为世界上最赚钱的零售银行”,和田哲也说,一个在东京三菱金融集团的零售银行业务主管董事。 “第二个是保持在未来50年中第一的位置。”世界反兴奋剂机构虚张声势是东京三菱金融集团的计划来执行290亿美元与日联控股公司,日本的第四大银行和大银行的大部分零售服务为重点的友好合并的结果。虽然日联不得不击退来自三井住友金融集团(三井住友)的敌意竞购,合并现定在10月份完成。这将使新的三菱ufj世界上最大的银行,$ 630亿美元的资产。大零售新的投资是一个迹象,日本的各大银行纷纷把他们的背后最麻烦。从不良贷款的长期后遗症几乎是结束了。截至12月,美林公司(mer)的估计,在日本主要银行的不良贷款率下降到3.8,低于2002年8.4的高峰。之后一些严重紧缩,日本银行现在在发达国家中最低的成本比率,根据高盛公司(gs)的银行家但无法恢复到做生意的旧方式。他们最好的蓝筹股客户现金充裕,贷款需求较少,而陷入困境的借款人已被切断信贷宽松新鲜线关闭。更何况,在日本的所有时间的低利率转化为微不足道的利润空间。可节省陷入僵局因此,大银行 - 东京三菱金融集团,ufj银行,三井住友和瑞穗金融集团 - 是在一个新的商业模式的需要。 “它是关于利润的,”约翰说sequeira,在贝恩咨询公司合伙人在东京。 “向企业贷款是不是一个好的业务可以在现在,所以日本的银行正在寻找其他地方。”当他们正在寻找第一个是零售银行业务。该行业得到了政府在十二月份,其中废止法规禁止的股票和债券直接销售给零售银行客户一些帮助。来到这对三年前决定前,允许银行市场,如年金保险产品。这些改革,加上政府计划缩减银行存款保险保证在4月1日开始,预计将在日本释放美元的个人资产13.5万亿一些,其中一半以上被锁定在低收益率,长期存款,其中大部分在邮政储蓄系统。标准普尔(mhp)的估计,平均而言,零售银行业务贡献不超过总数的30的利润在日本的银行,比70美国银行(bac)的。三菱与ufj的比例只有15,其中合并后的集团的经理们提出希望在未来数年的35。一大步,是东京三菱东京广场,近100家分行对的 - 出了712预定生存与日联的合并总计 - 该银行预计,到2007年在日本公开赛。在内部,每一个被划分成不同的服务提供,通常包括一个私人银行客户舒适的休息室和一个三菱东京的家经纪公司,三菱证券卫星

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