On Jan. 1, Aomori Bank and Michinoku Bank, both headquartered in the city of Aomori, merged to form Aomori Michinoku Bank, marking the first consolidation of two regional banks within the same prefecture in the Tohoku region.
The two banks, which had long been rivals, integrated their operations in April 2022 by setting up Procrea Holdings as their parent company.
"We take pride in representing Aomori's economy as synonymous with Aomori Michinoku Bank," Susumu Narita, president of Procrea Holdings, said during a news conference on Nov. 14 ahead of the planned merger.
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