Hokuto Bank

The Hokuto Bank Ltd
北都銀行
Type	closed-stock company
Industry	Banking; financial services
Predecessor	Masuda Bank (March 3, 1895)
Founded	Yokote, Akita, Japan
Headquarters	Akita, Japan (1993)
Number of locations	82
Area served	Tōhoku region, Japan
Key people	Satoru Machida (Chairman),; Eikichi Saito (President)
Products	Retail Banking; Payday advance; Mortgages; Consumer Finance; Investment Banking
Number of employees	1,711
Website	Hokuto Bank homepage

The Hokuto Bank (株式会社北都銀行, Kabushiki Kaisha Hokuto Ginkō) is a Japanese bank that is headquartered in Akita, Akita prefecture. The bulk of the bank’s business is in Akita prefecture, although it does operate branches in regional cities such as Morioka and Sendai, as well as a branch in Tokyo. The bank’s largest stakeholder is the Yamagata Prefecture-based FIDEA Holdings Co., Ltd, which currently controls 100 percent of the company stock.

Hokuto Bank head office

Profile

Deposit Balance: Approximately 1.114 trillion yen

Employees: 1,177

Branches: 82 (79 domestic, 3 overseas)

SWIFT code: HOKBJPJT

President: Eikichi Saito (from June 2008)

Membership: Regional Banks Association of Japan

History

The forerunner to the Hokuto Bank was the Masuda Bank, established in Yokote, Akita Prefecture in 1895. Although the Masuda Bank merged with several other banks throughout the first half of the 1900s, it changed its name to its present form in 1993 when it merged with the Akita Akebono Bank. At the time of the merger, the name Komachi Bank was floated as a possible name, but was ultimately turned down in favor of the current form. The bank has gradually diversified its range of financial services, and began to offer insurance in 2002. In the early 2000s, the Hokuto Bank was involved numerous scandals, including embezzlement charges. This prompted the Japanese Financial Services Agency to request a plan to improve its governance. As a result, the Hokuto Bank has launched a series of initiatives, entitled Believe and, more recently, Breakthrough, to improve its governance.

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External links

(in Japanese) Official site
(in Japanese) Japan Financial Services Agency Announcement, February 7, 2003
(in English) Bloomberg Report

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