SBI Shinsei Bank to pay back 100 billion yen of gov't bailout funds

Japan's SBI Shinsei Bank said Tuesday it will pay back 100 billion yen ($644 million) it received in a government bailout by the end of March, with an eye to relisting separately from its parent company on the Tokyo Stock Exchange.SBI Shinsei is the only major Japanese lender that has not fully paid back public money owed from the time when its predecessor, the Long-Term Credit Bank of Japan, collapsed in 1998 in the wake of the bursting of Japan's economic bubble.Still owing roughly 330 billion yen of the 370 billion yen injected by the state, the bank will pay 50 billion yen from its equi…READ FULL ARTICLE