INTERVIEW: Chiba Bank, Bank of Yokohama May Set Up Joint Tokyo Outlet

Economy

Tokyo, Aug. 18 (Jiji Press)--Chiba Bank <8331> President Hidetoshi Sakuma and Bank of Yokohama President Yasuyoshi Oya have revealed that they are considering the establishment of a joint outlet in Tokyo.

In a recent interview, they also stressed that the two banks will work together to develop new customers abroad and in the Japanese capital, where megabanks hold high market shares.

In July, Chiba Bank, the third-largest Japanese regional bank in terms of assets, and Bank of Yokohama, the industry leader, announced a business tie-up agreement.

"We'll jointly develop and implement a strategy to boost our (market) shares of loans," Sakuma said of a plan to strengthen sales capabilities in Tokyo. He also indicated that the two banks will mutually introduce their customers and carry out cofinancing projects.

"This is not the time to increase the number of outlets aggressively, but there is room for the establishment of sales footholds," Oya said, suggesting that new outlets may be set up in areas where either bank does not have big presence.

[Copyright The Jiji Press, Ltd.]

Jiji Press