Story perspectives
Regional Banks Start Merger Talks, Assets Exceed ¥13 Trillion
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Story summary
- Aomori Michinoku Bank, Bank of Iwate and Akita Bank will start merger talks.
- Combined assets would exceed ¥13 trillion ($82 billion), surpassing 77 Bank.
- Aomori Michinoku shares rose up to 6.7% while the others rose over 3%.
- The talks reflect pressure from population decline and tougher deposit competition in a rising-interest-rate environment.
- Japan’s Financial Services Agency has urged regional banks to develop long-term visions, including possible mergers.