Nissan has abandoned plans to create its own industrial bank in the US. The company withdrew its application for a banking license in Utah, deciding to focus on cost reduction and automotive business recovery.

The Nissan Bank U.S. project was supposed to operate on the basis of Nissan Motor Acceptance Corp. and allow the company to accept deposits. This would have given Nissan access to a cheaper source of funding and the ability to offer dealers more favorable lending terms.

However, establishing a bank requires significant initial capital. For comparison, previously approved projects for similar banks by other automakers required capital ranging from $150 million to $1.5 billion. For Nissan, such investments are currently poorly aligned with its cost-cutting program.

The automaker is implementing the Re:Nissan plan, designed to restore profitability and reduce its high cost structure. The company aims to achieve positive operating profit and positive free cash flow in fiscal year 2026.

Therefore, Nissan decided to reinvest money into the automotive business. The priority is the development of new models, production, and increasing the competitiveness of its vehicles. The company places special hopes on updating its main lineup and new powertrains.