LTCB And Sumitomo Merger Could Rival Tokyo-Mitsubishi

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TOKYO--The proposed merger between the Sumitomo Trust & Banking Company and the Long-Term Credit Bank of Japan (LTCB) is likely to create a new force in the FX market, say officials in Tokyo and London. Although neither bank is much of an interbank player at present, the proposed alliance would create the second largest financial institution in Japan, with a unique customer base and product range.

If the merger proceeds, the new bank will rival Bank of Tokyo-Mitsubishi in terms of asset size.