Fukui Bank, Fukuho Bank Annouce Comprehensive Tie-Up

Economy

Fukui, March 13 (Jiji Press)--Fukui Bank <8362> and Fukuho Bank said Friday they have agreed on a comprehensive business tie-up amid the deteriorating business environment in Fukui Prefecture on the back of the shrinking population and extremely low interest rates.

The alliance is aimed at streamlining their business operations to improve earnings.

The banks also said they will continue talks on capital-alliance options including a merger.

At a joint press conference in the city of Fukui, Fukui Bank President Masahiro Hayashi said capital tie-up discussions will go on to further strengthen relations between the two banks.

The business collaboration agreement calls for, among others, their joint use of branch offices, more effective operations of automatic teller machines, enhancement of consulting services and support for client companies' business continuation and overseas expansion.

[Copyright The Jiji Press, Ltd.]

Jiji Press