Call for regional banks to merge

TOKYO: Japanese regulators are increasing the pressure on regional banks to consolidate, worried that shrinking populations outside the nation’s major cities will leave lenders too weak to stand on their own.

After direct prodding from the head of the Financial Services Agency for the more than 100 regional banks to slim down through mergers or takeovers, the regulator has set up meetings with regional bank presidents to grill them on their long-term business plans. — Reuters