In today’s briefing:
- Rakuten Bank (5838 JP) Remains a Positive Pick in the Japanese Neobanks
Rakuten Bank (5838 JP) Remains a Positive Pick in the Japanese Neobanks
- Rakuten Bank shares have experienced something of a re-rating, but we believe it has further to go, with attractive fundamentals and relatively undemanding valuations compared to its digital peers
- Rakuten Bank is well positioned to benefit from the tailwind of the steepening yield curve in Japan, with its low LDR, growing loan book and healthy capital ratio
- It is leveraging off the Rakuten Group eco-system; not only is it growing its client base, but also nearly a third of clients use Rakuten Bank as their primary bank
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