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Report: Japan's Hyakujushi Bank to close about 20 branches

Japan-based Hyakujushi Bank Ltd. is planning to shutter about 20 branches over a period of five to 10 years, The Nikkei reported May 14.

The plan is aimed at cutting costs to offset thinning interest margins amid low interest rates in the country.

The bank, based in Kagawa Prefecture, currently has 124 branches in operation.