Sanwa, Bank Bali to tie up

Sanwa, Bank Bali to tie up

TOKYO (AFP): Japan's Sanwa Bank Ltd. will tie up with five
Asian banks including Indonesia's Bank Bali by sharing clients
and consolidating transfers between their countries, a daily said
yesterday.

Japan's major commercial bank has already signed a memorandum
with the five banks, including Siam Commercial Bank Republic Co.
Ltd. of Thailand and PT Bank Bali of Indonesia, the Nihon Keizai
Shimbun said.

Under the accord, Sanwa will have its cash management system
connected with the 1,000 offices belonging to the five banks in
Thailand, Indonesia, Malaysia and the Philippines by March 1998,
the business daily said.

Sanwa and the five Asian banks will share information on their
clients, Nihon Keizai said.

Sanwa already has a strong relationship with the five banks in
the form of capital participation and joint ventures, it said.