Toho Bank
Encyclopedia
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
that is headquartered in Fukushima city
Fukushima, Fukushima
is the capital city of Fukushima Prefecture in the Tōhoku Region of Japan. As of May 2011 the city has an estimated population of 290,064 and an area of 746.43 km².It lies about 250 km north of Tokyo and 80 km south of Sendai.-History:...
, Fukushima prefecture
Fukushima Prefecture
is a prefecture of Japan located in the Tōhoku region on the island of Honshu. The capital is the city of Fukushima.-History:Until the Meiji Restoration, the area of Fukushima prefecture was known as Mutsu Province....
. Toho Bank also operates some branches outside of Fukushima prefecture, with branches in Utsunomiya, Miyagi Prefecture
Miyagi Prefecture
is a prefecture of Japan in the Tōhoku Region on Honshu island. The capital is Sendai.- History :Miyagi Prefecture was formerly part of the province of Mutsu. Mutsu Province, on northern Honshu, was one of the last provinces to be formed as land was taken from the indigenous Emishi, and became the...
, and Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
, among others.
Profile
As of March 31, 2004- Assets: Approximately 2.6 trillion yen (approximately USD 24 billion)
- Employees: 1,961
- Branches: 116
- President: Toshio Seya (concurrently Regional Banks Association of Japan President)
- Member: Regional Banks Association of Japan
History
The Toho Bank emerged in its present form in 1941 through a merger of three regional banks as a part of Japan’s wartime economic planning. The bank merged with several other small regional banks throughout the 1940s. Like several other Japanese regional banks around the end of the Japanese bubble economy, the Toho Bank opened up branches in New YorkNew York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
and Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
in 1990 and 1992, respectively. Both of these branches were closed in the late 1990s. While the bank has recently made advances in reducing its burden of non-performing loans and increasing its capital-adequacy ratio, it has recently been cited by the Japanese Financial Services Agency for excessive incidences of misplacing customer information.