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Tokai Bank announced Monday that it will liquidate its leasing subsidiary in Indonesia as part of efforts to integrate and consolidate its overseas holdings.

The liquidation of PT Bapindo Loka Sentra Leasing, created in Jakarta in 1985, is slated for completion in October 2002, bank officials said.

Tokai Bank, a major commercial bank, established UFJ Holdings Inc. on April 1, along with Sanwa Bank and Toyo Trust & Banking Co.

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