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Business

Japan's banking newcomers enjoy steady growth

Sony Bank, nine others log 10% jump on the year in deposit balance

The Bank of Japan's negative interest rate policy proved to be a boon to SBI Sumishin Net Bank's mainstay housing loan business.

TOKYO -- Japan's 10 new entrants to the banking sector, such as Sony Bank, recorded a 10% rise on the year in their total deposit balance to more than 17 trillion yen ($152 billion) as of the end of March 2017.

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