Japanese online financial conglomerate SBI Holdings Inc said on Tuesday that a unit had received regulatory approval for a bank holding company licence, allowing it to take a majority stake in Shinsei Bank Ltd.
SBI Regional Bank Holdings Co obtained approval to operate as a bank holding company from the Financial Services Agency and plans to buy an additional 2.5 million shares in Shinsei Bank by March 31 to increase its stake to 50.05%, SBI said in a statement.
SBI raised its stake in the mid-sized Japanese lender last year to about 48% from about 20% previously as part of a $1 billion deal. It has said it plans to take a majority stake in Shinsei eventually, aiming to create a major banking group.
Reuters