Daishi, Hokuetsu banks near agreement to merge operations - NHK
16/03/2017 08:15
TOKYO, March 16 (Reuters) - Japan's Daishi Bank Ltd 8324.T
and Hokuetsu Bank Ltd 8325.T are in the final stages of
agreeing to integrate their operations, public broadcaster NHK
said on Thursday, another move to consolidate regional lenders
as the nation's population shrinks.
The two banks, based in Niigata prefecture on the Sea of
Japan coast in the north of the country, are looking to form a
joint holding company by around next spring to bolster their
operational bases, NHK said, without citing the sources for the
information.
Representatives from Daishi Bank and Hokuetsu Bank were not
immediately available for comment.
Japan has roughly 100 regional banks, but the shrinking
population and the Bank of Japan's negative interest-rate policy
are putting the squeeze on many lenders, prompting a few to
begin merging and taking other steps to shore up operations.
(Reporting by Junko Fujita and Thomas Wilson; Writing by
William Mallard)
((william.mallard@thomsonreuters.com; +81 3 6441 1469; Reuters
Messaging: william.mallard.reuters.com@reuters.net))
Keywords: JAPAN BANKS/DAISHI BANK HOKUETSU BANK