In correlation with Japan Post Bank’s start of business on October 1, JBA released the following Chairman’s comments:
Today, Japan Post Bank started its business under the umbrella of Japan Post Holdings Co. I would like to express our respect for the efforts of those individuals who have been involved in its preparations to date.
It is my understanding that Japan Post Bank, which is now under the Banking Law and participating in the Deposit Insurance System, will meet the various needs of customers by utilizing its creativity in a fair, competitive environment, and contribute to the sound development of the financial markets.We, the JBA member banks, will also make every effort to provide financial products/services with high-added value that meet customer needs.
The aim of postal reform lies in removing the privileges accompanying a governmental business and rectifying the bloated business scale generated by these privileges. It also aims to enhance the convenience of the people and direct the flow of funds toward the private sector by facilitating fair competition in the financial markets. We expect Japan Post Bank to observe the aim of the postal reforms and conduct its business operations in a manner that does not disrupt fair competition, and realize an appropriate, smooth entry into various markets.