Fuji Bank keeps HK foothold

PUBLISHED : Friday, 02 October, 1998, 12:00am
UPDATED : Friday, 02 October, 1998, 12:00am

Kwong On Bank's biggest shareholder Fuji Bank yesterday sought to assure local clients that the possible sale of its 50.13 per cent interest in Kwong On would not lessen Fuji Bank's commitment to Hong Kong.

In a statement yesterday, Fuji Bank said: 'The fact that Fuji Bank is in discussion with regard to its shareholdings in Kwong On Bank does not alter in any way the fact that Fuji Bank will continue to provide . . . quality services.' 'The Fuji Bank group remains absolutely committed to the Hong Kong market, where it employs approximately 300 people,' the bank said.

It said the services provided by local branches, Fuji International Finance and Fuji Capital Markets, were separate from those of Kwong On. 'As such, there is limited synergy between Kwong On and Fuji Bank's other Hong Kong activities,' it said.