Mizuho Bank

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Mizuho Bank, Ltd.
株式会社みずほ銀行
Public company KK (a Mizuho Financial Group company)
Industry Financial Services
Founded 2002
Headquarters Otemachi, Chiyoda-ku, Tokyo, Japan
Key people
Koji Fujiwara
(President & Group CEO)[1]
Revenue Increase ¥1,178,840 million (2018)[2]
Increase ¥448,893 million (2018)[2]
Number of employees
30,301 (2018)[3]
Parent Mizuho Financial Group
Subsidiaries Mizuho Americas
Website www.mizuhobank.com
Mizuho Bank Ginza branch

Mizuho Bank, Ltd. (株式会社みずほ銀行, Kabushiki-gaisha Mizuho Ginkō) is the integrated retail and corporate banking unit of Mizuho Financial Group (TYO:8411; NYSE:MFG), one of the largest financial services companies in Japan, with total assets of approximately $1.8 trillion in 2017. Mizuho is one of the three so-called Japanese "megabanks" (along with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group). Mizuho Bank provides financial products and services to a wide range of clients, including individuals, small and medium-sized enterprises, large corporations, financial institutions and public sector entities. Its headquarters office building is located in the Otemachi district of Chiyoda, Tokyo.

Mizuho Bank has over 505 branches and offices in Japan and in 38 other countries, and is the only bank to have branches in every prefecture in Japan.

The name “Mizuho” is an archaic Japanese term meaning “golden ears of rice,” and was used in the classical text Nihon Shoki to describe Japan.

History[edit]

Announced in 1999, Mizuho Financial Group was established on April 1, 2002 by the merger of Dai-Ichi Kangyo Bank, Fuji Bank and the Industrial Bank of Japan. All three predecessors were major financial institutions in their own right and had served as cornerstones of major zaibatsu (prewar era) and keiretsu (postwar era).[4] In April 2002, Mizuho Corporate Bank and Mizuho Bank were established as two core banking subsidiaries of Mizuho Financial Group[5] through a split and merger process reorganizing the three legacy banks.[6] It was the first financial holding company structure created among major Japanese banks.[7] Mizuho Corporate Bank focused on large corporations, financial institutions and public sector entities in Japan and overseas.[8] Mizuho Bank focused on individuals and small and medium-sized companies in Japan.[9]

Mizuho Corporate Bank engaged in steady expansion overseas, opening twenty overseas offices between 2005 and 2010,[10] particularly in China, as well as in the Americas, Europe and Middle East. In 2006, Mizuho Corporate Bank became the first Japanese bank to obtain financial holding company status in the U.S.,[11] and Mizuho Financial Group listed its ADRs on the New York Stock Exchange.[12]

The two banks were initially consolidated under a holding company, Mizuho Holdings. On October 1, 2005 they were transferred to a new holding vehicle, Mizuho Financial Group.[4] On July 1, 2013, a merger between the former Mizuho Bank and the former Mizuho Corporate Bank took place, and the institution was named Mizuho Bank.[13]

Services[edit]

Mizuho services include current accounts, domestic and international cash cards, international money transfers, credit cards, saving accounts, loans, and Internet banking.[14]

See also[edit]

References[edit]

  1. ^ "Koji Fujiwara: Executive Profile & Biography - Bloomberg". Bloomberg.com. Retrieved June 1, 2018. 
  2. ^ a b https://www.mizuho-fg.com/investors/financial/fin_statements/index.html
  3. ^ https://www.mizuhobank.com/company/info/profile/index.html
  4. ^ a b Padmalatha, Suresh (September 1, 2011). "Management Of Banking And Financial Services, 2/E". Pearson Education India. Retrieved June 1, 2018 – via Google Books. 
  5. ^ Berger, Allen N. (June 1, 2018). "The Oxford Handbook of Banking". Oxford University Press. Retrieved June 1, 2018 – via Google Books. 
  6. ^ "Archived copy". Archived from the original on July 26, 2017. Retrieved June 1, 2018. 
  7. ^ Peter Hoflich (2008). Asia's Banking CEOs: The Future of Finance in Asia. Wiley. p. 14. 
  8. ^ Tan, Chwee Huat (June 1, 2018). "Dictionary of Asia Pacific Business Terms". NUS Press. Retrieved June 1, 2018 – via Google Books. 
  9. ^ Kase, Kimio; Jacopin, Tanguy (December 14, 2007). "CEOs as Leaders and Strategy Designers: Explaining the Success of Spanish Banks: Explaining the Success of Spanish Banks". Springer. Retrieved June 1, 2018 – via Google Books. 
  10. ^ "News Release(Former Mizuho Corporate Bank)". Mizuhobank.com. Retrieved June 1, 2018. 
  11. ^ "Financial Holding Company status obtained in the U.S." (PDF). Mizuhobank.com. Retrieved 1 June 2018. 
  12. ^ "Mizuho Financial Group English website address has been changed" (PDF). Mizuho-fg.co.jp. Retrieved June 1, 2018. 
  13. ^ Inc., Mizuho Financial Group,. "Mizuho Financial Group English website address has been changed". Mizuho-fg.co.jp. Retrieved June 1, 2018. 
  14. ^ "Mizuho Bank, Ltd.: Private Company Information - Bloomberg". Bloomberg.com. Retrieved June 1, 2018. 

External links[edit]