The work-from-home phenomenon during the pandemic is providing an unexpected boon for one of Japan¡¯s biggest mortgage lenders.
Resona Holdings Inc. is enjoying a surge in demand for credit from homebuyers seeking larger properties in the suburbs, where the bank has a strong presence, President Masahiro Minami said. Its mortgage loans climbed 6.5% to ?1.3 trillion ($12 billion) in the year ended March, the highest in at least three years.
¡°I didn¡¯t expect the housing loan business to perform this solidly when the first state of emergency was declared in April last year,¡± Minami said in an interview, referring to Japan¡¯s COVID-19 measures.
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