Japanese Merger Produces World's Biggest Bank by Assets

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00021413-japanese-merger-produces-worlds-biggest-b/

Buying a scandal-tainted bank plagued by four straight years of red ink hardly seems like an auspicious way to cement a turnaround.

But when Mitsubishi Tokyo Financial Group Inc. takes over money-losing UFJ Holdings Inc. tomorrow, the new bank will not only emerge as the world’s biggest — surpassing Citigroup Inc. in terms of assets — it also will symbolize the rebirth of a Japanese banking industry once buried in bad debt allowed by weak regulatory oversight.

For this complete story, please visit Japanese Merger Produces World’s Biggest Bank by Assets.

Japanese Merger Produces World's Biggest Bank by Assets

Unknown Author

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