Chiba Bank Acquires Stake in Chiba Kogyo Bank

Chiba, March 28 (Jiji Press)--Chiba Bank said Friday it has acquired a 19.9 pct stake in Chiba Kogyo Bank for some 23.7 billion yen.

The two regional banks in Chiba Prefecture, east of Tokyo, will start talks to boost ties, now that Chiba Bank became the largest shareholder of Chiba Kogyo Bank.

Asked about a possible merger in the future, an official at Chiba Bank said, "Nothing has been decided."

Chiba Bank acquired the shares from Ariake Capital, an investment fund in Tokyo that first invested in Chiba Kogyo Bank in 2022.

Consolidations of the Japanese regional banking industry may accelerate as local economies remain sluggish due to depopulation.

[Copyright The Jiji Press, Ltd.]