Kiyo Bank to seek 20 to 30 bil. yen in public funds

WAKAYAMA, Japan - Phototaken on Aug. 22 shows the head office of Kiyo Bank, a regional bank based in Wakayama Prefecture, which is planning to apply for a public funds injection of 20 billion to 30 billion yen in September under the government's bank recapitalization program. Sources familiar with the matter said that Kiyo Bank, which will absorb Wakayama Bank on Oct. 10, intends to use the funds to shore up its capital and strengthen investment related to information technology.

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