Struggling Japanese consumer lender Aiful Corp said on Thursday it would halve its workforce and slash branch numbers as it warned of a $3.4bn loss for the year to March 2010, reports Reuters. Shares of Aiful, which last week asked creditors if it could delay repayments on $3bn in debt, were 22% down from the previous trading day. Japan’s moneylenders have been hit by regulations lowering maximum interest rates and legal rulings that have forced them to repay past charges.

This entry was posted by Gwen Robinson on Thursday, September 24th, 2009 at 4:39 and is filed under Capital markets. Tagged with Aiful. Edit this entry.