Regional Banks in Northern Japan to Consider Three-Way Merger
12 Articles
12 Articles
(Tokyo=Yonhap News) Correspondent Lee Do-yeon = As it becomes difficult for banks to attract deposits and loans due to population decline, three banks in Japan's Tohoku (northeastern) region are merging their operations...
[Yomiuri Shimbun] It was learned on the 1st that Aomori Michinoku Bank (Aomori Prefecture), Iwate Bank (Iwate Prefecture), and Akita Bank (Akita Prefecture) will begin discussions toward a business merger. If realized, the combined total assets of the three banks will exceed 13 trillion yen, making them one of the largest banks in Tohoku, surpassing Shichijushichi Bank (Miyagi Prefecture).
The three banks, Proclair Holdings, Iwate Bank, and Akita Bank, which have Aomori Michinoku Bank under its umbrella, have agreed to begin studies for business integration in 2028/4. While competition for deposit acquisition and lending intensifies due to a return to a “world with interest rates,” while the business environment surrounding regional financial institutions becomes more severe, such as a decline in population and number of companies…
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