Japanese Internet bank eBank is likely to achieve profitability in the year
to March 2004 as targeted, eBank President Taiichi Matsuo told Jiji Press in
a recent interview.

To this end, eBank will make an all-out effort to increase the number of
client accounts, Matsuo said.

Launched in July 2001, eBank suffered a net loss of 3.7 billion yen in the
year that ended March 31, due to slow growth in accounts.

Among specific plans to boost the figure, eBank will combine money transfer
and remittance services by mobile phone with similar services via e-mail.

The bank is also slated to launch a variety of other new services in the
next couple of months, and these are expected to enjoy synergy benefits,
Matsuo said.

Given such new plans, the number of client accounts will show a remarkable
upturn in early 2003, he added.

Looking back on the first year of operations, Matsuo said it was taking more
time than expected to expand the business, as it has focused more on
security of its computer systems.

Asia Intelligence Wire

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Amra the Freelancer
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