Japan Govt Not to Force Regional Bank Realignments: Suga

Politics Economy

Tokyo, Dec. 24 (Jiji Press)--Japanese Prime Minister Yoshida Suga said Thursday that regional banks should not be forced by the government to integrate their operations with others.

Referring to his government's efforts to promote regional bank realignments, Suga said that the government "has just created an environment" to make it easier for regional lenders to make moves for industry realignments.

He made the remarks in a speech at a gathering hosted by the Research Institute of Japan, a Jiji Press affiliate.

In September, when he declared his bid to run in the ruling Liberal Democratic Party leadership election to succeed former Prime Minister Shinzo Abe, Suga had said that "there are too many regional banks in Japan."

With policy measures aimed at helping regional banks' efforts to strengthen their business foundations now in place, Suga apparently shifted to a stance of respecting the independent initiatives of individual banks.

[Copyright The Jiji Press, Ltd.]

Jiji Press