Bloomberg reported Shinsei Bank is interested in bidding for General Electric’s leasing assets in Japan as it seeks to diversify away from traditional lending, its incoming chief executive officer said.

According to Bloomberg, Hideyuki Kudo, who takes over from CEO Shigeki Toma next month, said the Japanese bank, which already owns Showa Leasing, wants to examine how GE’s operation would fit into its existing business before deciding whether to make a bid.

Bloomberg reported Shinsei, partly owned by private-equity investor J. Christopher Flowers, has been branching out into areas such as consumer finance as Japan’s low interest rates crimp loan profitability. GE plans to seek bids for its Japanese leasing operation, which has 500 billion yen ($4 billion) of assets and 1,000 local employees, as soon as in July, according to Bloomberg.

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