03/15 01:57 Sanwa Bank, Partners, to Write Off 1 Trln Yen of Bad Loans By Takahiko Hyuga and Tomomi Sekioka

Tokyo, March 15 (Bloomberg) -- Sanwa Bank Ltd. and two merger partners said they will write off a combined 1 trillion yen ($8.3 billion) of bad loans and report losses this year amid ``severe economic conditions.''

Sanwa Bank said it expects to post a net loss of a 150 billion yen, Tokai Bank Ltd. expects a net loss of 70 billion yen, while Toyo Trust & Banking Co. sees a net loss of 3 billion yen.

The trio said they plan to shut 108 branches and trim 8,000 employees by March 2006.

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-- Carl Jenkins (somewherepress@aol.com), March 15, 2001