Tokyo Tomin, Yachiyo to start talks

JIJI

Tokyo Tomin Bank and Yachiyo Bank, both regional lenders in Tokyo, are poised to start business integration talks in the near future, sources said Friday.

The two banks will aim to set up a joint holding company next October, the sources said.

Tokyo Tomin and Yachiyo plan to decide on the launch of the integration talks at their respective board meetings next week.

The combined balance of deposits at the two banks stood at ¥4.4 trillion at the end of March, the sixth-largest among regional banks in the Kanto region.