2 Min Read
TOKYO, May 11 (Reuters) - Two regional banks in Japan’s northern prefecture of Aomori said they were considering consolidating their businesses, joining a flurry of lenders seeking to survive amid narrowing margins from a rapidly ageing population and ultra-low interest rates.
Aomori Bank and Michinoku Bank, both listed lenders based in Aomori, said in a statement on Tuesday they were “considering” a business consolidation.
The statement came in response to a report by public broadcaster NHK on Monday they were in talks to consolidate, a move that would give them a 70% share in the prefecture.
“Regional banks are facing a difficult business environment,” Finance Minister Taro Aso told reporters, when asked about the reported talks.
Michinoku
Japan-general
Japan
Tokyo
Aomori
Yoshifumi-takemoto
Leika-kihara
Jacqueline-wong
Yoshihide-suga
Thomson-reuters-trust-principles
Michinoku-bank
Aomori-bank