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Article: BIGGER SIZE WON'T SOLVE ALL PROBLEMS FOR JAPAN TRUST BANK GIANT.
- Article from:
- AsiaPulse News
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Nov 9 Asia Pulse - The merger of Japan's Sumitomo Trust & Banking Co. (TSE:8403) and Chuo Mitsui Trust Holdings Inc. (TSE:8309) represents an attempt to overcome economic instability by scaling up while maintaining a focus on trust banking, but a mountain of challenges lies ahead.
"Our understandings of the harsh economic environment after the financial crisis are in sync, and past differences in our business plans no longer constitute a barrier," Chuo Mitsui President Kazuo Tanabe said at a joint news conference Friday, when the merger plan was officially announced.
The two banks are expected to merge in April 2011.
A tie-up between the ...