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Japan lender Resona plans to repay public funds in 5 yrs -Nikkei
May 8, 2013 / 11:07 PM / in 4 years

Japan lender Resona plans to repay public funds in 5 yrs -Nikkei

TOKYO, May 9 (Reuters) - Japanese lender Resona Holdings Inc plans to finish repaying the 871.6 billion yen ($8.8 billion) in public funds it still owes the government in five years, the Nikkei business daily said on Thursday.

The banking group has already paid back 2.25 trillion yen of the 3.12 trillion yen in bailout money it received from the government, and is negotiating the details for repaying the remainder, the Nikkei said.

Resona plans to pay back 300 billion yen to 400 billion yen in the current business year ending March 2014, the newspaper said.

Resona received bailout money in a government rescue in 2003 and sector-wide recapitalisations in the late 1990s.

$1 = 99.0750 Japanese yen Reporting by Dominic Lau; Editing by Chris Gallagher

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