Local Japan banks Daishi, Hokuetsu reach basic merger pact
05/04/2017 04:00
TOKYO, April 5 (Reuters) - Daishi Bank 8324.T and Hokuetsu
Bank 8325.T , two small locally operating Japanese lenders,
said on Wednesday they had reached a basic agreement to merge
their operations.
The banks, based in Niigata prefecture on the Sea of Japan
coast, will set up a holding company in April 2018, they said in
a statement.
Japan has roughly 100 so-called regional banks. A shrinking
population and the central bank's negative interest-rate policy
have created a tough business environment, prompting some to
merge or take other steps to shore up their operations.
(Reporting by Chris Gallagher; Editing by Himani Sarkar)
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Keywords: JAPAN BANKS/DAISHI BANK HOKUETSU BANK