Banking industry in Japan - statistics & facts
Banks in Japan are finding themselves in new territory. Japan鈥檚 central bank ended decades of ultralow interest rates in March 2024 by raising its key policy rate for the first time in 17 years. Japanese banks started to operate in an environment with positive policy rates for the first time in eight years. The new environment creates opportunities for the banking industry, which reported record profits in the fiscal year 2024. At the same time, banks need to adapt to the new situation and face new challenges, such as increased competition for customers.
