Shiga Bank, Senshu Ikeda Holdings Eye Merger

Tokyo, Oct. 24 (Jiji Press)--Shiga Bank and Senshu Ikeda Holdings Inc., which owns Senshu Ikeda Bank, are considering a management integration under a new holding company, aiming to expand their customer bases and strengthen their competitiveness, people familiar with the matter have said.

The possible integration would create the largest regional banking group in the Kansai western Japan region, with combined assets exceeding 14 trillion yen.

On Friday, the two companies issued separate statements admitting that they are considering a management integration. An official announcement on the matter is expected later this month.

In April, Shiga Bank, based in Shiga Prefecture, and Senshu Ikeda Holdings, based in Osaka Prefecture, announced a capital and business alliance under which each would acquire a stake of about 0.5 pct to 1 pct in the other.

They said they would strengthen cooperation in areas including business succession and support for mergers and acquisitions.

[Copyright The Jiji Press, Ltd.]