is a Japanese

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

founded in

Saitama Prefecture is a landlocked prefecture of Japan located in the Kantō region of Honshu. Saitama Prefecture has a population of 7,338,536 (1 January 2020) and has a geographic area of 3,797 km2 (1,466 sq mi). Saitama Prefecture borders Tochigi Prefecture ...

1943. After a series of bank mergers and corporate restructuring, the emerged as the leading bank in

History

The head office of Saitama Bank was located in

Urawa, Saitama was a Cities of Japan, city located in Saitama Prefecture, Japan. On May 1, 2001, Urawa was merged with the cities of Ōmiya, Saitama, Ōmiya and Yono, Saitama, Yono to create the city of Saitama, Saitama, Saitama. Since April 1, 2003, the area ...

with more than 170 branches in Japan. Overseas branches included Singapore, London, New York, Hong Kong and Brussels. In 1990, the bank's financial instability was revealed. Its directors were alleged to have mismanaged corporate assets and breached fiduciary duties by purchasing a large block of stock in a Japanese manufacturing company at what were grossly inflated prices. In 1991, Kyowa Bank and Saitama Bank merged to form one of the world's largest banks with deposits totaling about $177 billion. This was construed as triggering reorganization of Japan's banking industry. In 1992, the combined banks were renamed Asahi Bank; and this bank merged with

Daiwa Bank () is the holding company of , the fifth-largest banking group in Japan as of 2012. It is headquartered in the Kiba area of Koto, Tokyo. The main operating entities of the group are Resona Bank, a nationwide corporate and retail bank headqu ...

in 2002. In 2002, corporate restructuring established

Resona Holdings () is the holding company of , the fifth-largest banking group in Japan as of 2012. It is headquartered in the Kiba area of Koto, Tokyo. The main operating entities of the group are Resona Bank, a nationwide corporate and retail bank headqu ...

and the Saitama Resona Bank.Resona Holdings
Major Group Companies
retrieved 2011-07-18

Notes

References

* Nussbaum, Louis-Frédéric and Käthe Roth. (2005)
''Japan encyclopedia.''
Cambridge:

Harvard University Press Harvard University Press (HUP) is a publishing house established on January 13, 1913, as a division of Harvard University, and focused on academic publishing. It is a member of the Association of American University Presses. After the retirem ...

. {{ISBN, 978-0-674-01753-5
OCLC 58053128

External links

Resona Holdings, Inc.

United States Court of Appeals for the Ninth Circuit, July 25, 1991
940 F2d 670
*

New York State Banking Department The New York State Banking Department was created by the New York Legislature on April 15, 1851, with a chief officer to be known as the Superintendent. The New York State Banking Department was the oldest bank regulatory agency in the United States ...

Saitama Bank, Ltd.

Regional banks of Japan

History

See also

Notes

References

External links