is a Japanese regional bank that is headquartered in Mito city,

Ibaraki Prefecture is a Prefectures of Japan, prefecture of Japan located in the Kantō region of Honshu. Ibaraki Prefecture has a population of 2,828,086 (1 July 2023) and has a geographic area of . Ibaraki Prefecture borders Fukushima Prefecture to the north, ...

. The bank is relatively large among Japanese regional lenders, and operates branches throughout the

Kantō region The is a geography, geographical region of Honshu, the largest island of Japan. In a common definition, the region includes the Greater Tokyo Area and encompasses seven prefectures of Japan, prefectures: Chiba Prefecture, Chiba, Gunma Prefe ...

. In addition to branches in Miyagi, Fukushima, Chiba, Saitama,

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

, and

Osaka is a Cities designated by government ordinance of Japan, designated city in the Kansai region of Honshu in Japan. It is the capital of and most populous city in Osaka Prefecture, and the List of cities in Japan, third-most populous city in J ...

prefectures, the bank also operates a representative office in

Shanghai Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...

. While the bank has many stakeholders, prominent shareholders include the

Bank of Tokyo-Mitsubishi 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. As banks ...

, along with several major Japanese

insurance companies Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

Although Ibaraki Prefecture ranks only 24th in size among Japan's 47 prefectures, it ranks 4th in terms of usable area. It is therefore one of the leading producers of agricultural products and has a largely rural population. As a consequence of this, Joyo Bank has had to maintain a large but inefficient branch network. This feature has helped the bank by limiting competition from other banks, with the result that Joyo Bank has been able to command a 38% market share of deposits and 42% share of loans in Ibaraki.

History

The Joyo Bank can trace its roots back to the

Meiji era The was an Japanese era name, era of History of Japan, Japanese history that extended from October 23, 1868, to July 30, 1912. The Meiji era was the first half of the Empire of Japan, when the Japanese people moved from being an isolated feu ...

in 1878 with the establishment of the and the . These two institutions merged on July 30, 1935 to form the Joyo Bank. During the 1980s and 1990s, the Joyo Bank opened up representative offices in major markets such as

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

(1987 – 2002),

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

(1982 – 2000),

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

(1994 – 1999), and

(est. 1996). Of these, only the Shanghai office remains open. As of March 31, 2005 :Assets: Approximately 6.1 trillion yen (approximately US$56 billion) :Employees: 3,512 :Branches: 145 branches, 25 sub-branches, 1 overseas representative office :President: Kunio Onizawa :Member: Regional Banks Association of Japan Since this time, the bank has merged with several other regional banks.

External links

Official site

English part of official site
Regional banks of Japan Companies formerly listed on the Tokyo Stock Exchange {{Japan-company-stub