The Long-Term Credit Bank of Japan, which has returned to private management after being under state control, is interested in taking over the operations of the failed Tokyo Sowa Bank, its top executive said Tuesday.
Masamoto Yashiro, chairman and chief executive officer of the bank, told a news conference that the bank is studying the possibility of buying Tokyo Sowa, a Tokyo-based second-tier regional bank that went under and was placed under state control in June 1999.
"Tokyo Sowa has done well in businesses targeting individuals," Yashiro said. "It was the first Japanese bank to offer 24-hour telephone banking services and a year-round ATM hookup."
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