Minister Suzuki to Promote Regional Bank Realignment

Politics

Tokyo, Oct. 8 (Jiji Press)--New Japanese Minister of Finance Shunichi Suzuki has made it clear that the government will continue to promote realignment among regional banks to support their reforms.

"Regional financial institutions are very important for local residents, but they are in a tough business environment due to depopulation," Suzuki, who took office Monday, said in an interview with media organizations Thursday.

The policy of facilitating regional bank realignment, taken under the administration of former Prime Minister Yoshihide Suga, will not change at all under new Prime Minister Fumio Kishida, said Suzuki.

"Although it's up to each regional bank to decide business integration, we regard it as an option for business reforms," Suzuki said. "It's important to work steadily on business reforms within preset time frames."

Suzuki, former chairman of the ruling Liberal Democratic Party's General Council, concurrently serves as financial services minister, overseeing the country's financial industry.

[Copyright The Jiji Press, Ltd.]

Jiji Press