All-out competition will break out among Japan's four major banking groups next month in an arena that will host some of the world's largest banks in terms of aggregate assets.
Three megamergers will give birth to banking giant Sumitomo Mitsui Banking Corp. on April 1, and the United Financial of Japan and Mitsubishi Tokyo Financial groups on April 2. These three will join the Mizuho Financial Group, which began operating in September.
Their size alone, however, does not automatically make them top-tier banks, because all four share the same set of problems: massive bad loans and dwindling profitability.