• Kyodo

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UFJ Bank will strive to increase lending to small and midsize companies in the Chubu region, UFJ Bank President Masashi Teranishi said Monday.

“I’m afraid that lending (to small and midsize companies) has not increased enough. But we will expand it as it is a core source of revenue,” Teranishi told a news conference in Nagoya.

UFJ Bank was created in January 2002 via a merger of Sanwa Bank and Tokai Bank.

Teranishi acknowledged operations in the Chubu region have not been as robust as they should have been since the merger.

“But now that we have established a firm footing as the merged bank, we will proceed in a positive manner,” he said.

Teranishi said the bank will push ahead with restructuring programs aimed at solving its bad-loan problems, adding that it will promote branch-network consolidation.

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