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Finance

Fukushima Bank hopes SBI partnership will help it survive

Online broker keen to form alliances with regional banks

Fukushima Bank is hoping that a partnership with SBI Holdings will lift it out of the red.

TOKYO -- Japanese regional lender Fukushima Bank is getting a cash injection from SBI Holdings, the nation's largest online broker, as it turns to technology in hope of emerging from the banking slump.

Fukushima Bank, based in the northeastern prefecture devastated by the 2011 earthquake and nuclear disaster, said Monday that it will receive capital investment of 1.1 billion yen ($10 million) from SBI Holdings, giving the internet company a stake of close to 20%.

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