OSAKA (Kyodo) Kansai Urban Banking Corp. began operations Monday following its inauguration over the weekend through the merger of Bank of Kansai and Kansai Sawayaka Bank.

The regional lender, which replaces the two Osaka-based second-tier regional banks, was inaugurated Sunday. It has a network of 120 branches in Osaka Prefecture and neighboring prefectures, although its restructuring program calls for cutting the number to 100.

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