“Credit Saison to acquire 15% of Suruga Bank in capital and business tie-up”

According to people involved, “Credit Saison” has decided to acquire about 15% of the shares of “Suruga Bank” and dispatch officers to make it an affiliated company to which the equity method is applied.

On the other hand, “Suruga Bank” is also making adjustments to acquire about 5% of the shares of “Credit Saison”.

The two companies are expected to form a capital and business tie-up and collaborate in areas where they both have strengths, such as credit cards and housing loans, with the aim of developing new customers and improving profitability.

Both companies plan to announce these policies in the near future.

After the discovery of a large-scale illegal loan in 2018, “Suruga Bank” accepted an investment of more than 18% from “Nojima”, a major electronics retailer, and formed a capital and business alliance. Nojima” sold all shares to the bank and dissolved the partnership.