Sanwa, Tokai And Asahi Announce April 2002 Completion Of Merger
RESULTS
TOKYO--Japanese banking consolidation took a step forward last week as Sanwa Bank, Asahi Bank and Tokai Bank announced they plan to complete the merger of their operations by April 2002.
The three banks will form a holding company in April next year, with the integration of the bank’s business units taking place after that.
All three banks have active FX trading operations, with Sanwa as the most dominant player.
The new group could have a strong foothold in the emerging FX landscape in Tokyo
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