Bank of Yokohama and Chiba Bank to fight low interest rate environment
The arrangement between Bank of Yokohama and Chiba Bank includes retail banking, advertising of databases and M&As.
Reuters stated that the Bank of Yokohama and Chiba Bank of Japanese domestic lenders would forge a company relationship in a struggle against a long era of low-interest rates coupled with the ageing population of the country.
The companies disclosed that the arrangement would include fields such as retail banking, computer advertising, as well as fusions and purchases through their distinct accounts.
“Progression in ageing, extended adverse loan prices, and the introduction of distinct sectors have greatly altered our company climate,” Hidetoshi Sakuma, Chiba Bank President, informed journalists.
“We thought about the option of this collaboration when I encountered Mr Sakuma alone in March,” said Bank of Yokohama President Yasuyoshi Oya. “That was the beginning of the debate.”