2 Regional Banks in Western Japan to Integrate Operations

Tokyo, July 23 (Jiji Press)--Two regional banks in Ehime Prefecture, western Japan, are in the final stage of talks on integrating their operations in April next year at the earliest, it was learned Thursday.

Iyogin Holdings Inc., which has Iyo Bank as its core operating subsidiary, and Ehime Bank aim to strengthen their business foundations and reduce costs through the planned integration, informed sources said.

They are expected to announce the move shortly.

Combined assets at Iyogin Holdings and Ehime Bank, both listed on the Tokyo Stock Exchange's top-tier Prime section, total more than 12 trillion yen on a consolidated basis.

Iyo Bank and Ehime Bank will operate under a holding company without merging into a single entity, according to the sources. They will retain their current names.

[Copyright The Jiji Press, Ltd.]