"Aichi Bank" and "Chukyo Bank", which have their head offices in Nagoya City, announced that they have reached a basic agreement to enter into discussions for a business integration.

The company plans to jointly establish a holding company by October next year and aim to merge the two banks two years later.

According to the announcement, Aichi Bank and Chukyo Bank have reached a basic agreement to enter into discussions for a business integration, and will jointly establish a holding company by October 3, next year, and proceed with consideration in the direction that both banks will be under the umbrella. It is said that.



In addition, the company aims to merge the two banks within two years after the establishment of the holding company.



The head office of the holding company will be located at the current head office of Aichi Bank, and the president of Aichi Bank will be appointed president and the president of Chukyo Bank will be vice president.



The two banks are planning to promote efficiency and rationalization through business integration and strengthen the management base, and if realized, the total deposit balance will be about 5 trillion yen, and the largest regional bank group in Aichi Prefecture will be born.



The presidents of both banks will hold a press conference from 5:30 pm on the 10th to explain in detail the aims of this business integration.

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