Osaka, Oct. 30 (Jiji Press)--Shiga Bank and Senshu Ikeda Holdings Inc. announced Thursday a basic agreement to launch talks on integrating their operations in April 2028 to create the largest local banking group in the Kansai region of western Japan in terms of consolidated gross assets.

Shiga Bank, which mainly operates in Shiga Prefecture, and Senshu Ikeda Holdings, the parent of Senshu Ikeda Bank, whose primary service area is Osaka Prefecture, hope to reach a definitive agreement in April 2027.

Combined gross assets at Shiga Bank and Senshu Ikeda Holdings, both listed on the Tokyo Stock Exchange's top-tier Prime section, amounted to about 14.2 trillion yen on a consolidated basis at the end of March this year.

Shiga Bank and Senshu Ikeda Bank will operate under Senshu Ikeda Holdings, instead of merging into a single entity, after the former becomes a subsidiary of the holding company through a share swap. Shiga Bank will be delisted from the TSE.

"We aim to become a financial group that can realize growth of Kansai," Shiga Bank President Shinya Kubota said at a joint press conference held in the city of Osaka, the capital of Osaka Prefecture, on Thursday.

Shiga Bank President Shinya Kubota (right) and Senshu Ikeda Holdings President Hirohito Sakaguchi hold a joint press conference in the city of Osaka on Thursday to announce the two institutions' basic agreement to aim for their April 2028 business integration.
Shiga Bank President Shinya Kubota (right) and Senshu Ikeda Holdings President Hirohito Sakaguchi shake hands after a joint press conference held in the city of Osaka on Thursday to announce the two entities' basic agreement to aim for their April 2028 business integration.
The logos of Shiga Bank (top) and Senshu Ikeda Bank

[Copyright The Jiji Press, Ltd.]