Japan’s Regional Bank Merger Wave to Create $74 Billion Lender

Two regional banks in central Japan are planning to integrate their operations, people familiar with the matter said, as a long-anticipated industry consolidation pick up pace.

The deal between Aichi Financial Group Inc. and San ju San Financial Group Inc. will create a regional banking group with total assets worth over ¥11.6 trillion yen ($74 billion), the people said, asking not to be named before an official disclosure. The firms are expected to announce this later on Wednesday, said one of the people.