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. Last Updated: 07/27/2016

Japanese Bank Merger




TOKYO -- The Bank of Tokyo-Mitsubishi and Mitsubishi Trust and Banking Corp. are likely to agree this week to merge as early as spring 2001, Japan's top economic newspaper reported Tuesday.


The merger, reported in the Nihon Keizai daily, would create the world's fifth-largest financial group, with 87 trillion yen ($837 billion) in deposits and other assets.


According the newspaper report, the two banks would integrate their operations under a joint holding company. It would manage 45 trillion yen ($433 billion) in pension and other trusts.