The 77 Bank
Encyclopedia
is a Japanese bank
that is headquartered in Sendai, Miyagi Prefecture
. As the designated financial institution of the prefecture, the city, and many other cities and towns throughout the prefecture, it performs duties such as holding deposits for public money and handling payments. It is also the biggest regional bank in the Tōhoku region
.
The 77 Bank is unique among other Tōhoku region banks in operating branches in Nagoya and Osaka
. It also runs a representative office in Shanghai
. Following criticism for lagging behind in the establishment of a cooperative ATM network, the bank is scheduled to enter into an agreement with two other convenience store
operators within the prefecture in March, 2006.
As of March 31, 2004:
, an area with very limited banking services at the time. The famous industrialist of the time and president of the First National Bank, Shibusawa Eiichi, took an interest in the development of the Tohoku region; he supported the fledgling bank through advice, provision of some of his own funds, and the supply of personnel from The First National Bank when The 77th National Bank was founded.
The 77th National Bank changed its name to The 77 Bank, Ltd. in 1932, when it merged with the Tohoku Jitsugyo Bank and the Gojo Bank.
Although The 77 Bank closed representative offices and branches in London
and New York
after the collapse of the bubble economy in the 1990s, it opened a representative office in Shanghai
in July, 2005.
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 Sendai, 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...
. As the designated financial institution of the prefecture, the city, and many other cities and towns throughout the prefecture, it performs duties such as holding deposits for public money and handling payments. It is also the biggest regional bank in the Tōhoku region
Tohoku region
The is a geographical area of Japan. The region occupies the northeastern portion of Honshu, the largest island of Japan. The region consists of six prefectures : Akita, Aomori, Fukushima, Iwate, Miyagi and Yamagata....
.
The 77 Bank is unique among other Tōhoku region banks in operating branches in Nagoya and Osaka
Osaka
is a city in the Kansai region of Japan's main island of Honshu, a designated city under the Local Autonomy Law, the capital city of Osaka Prefecture and also the biggest part of Keihanshin area, which is represented by three major cities of Japan, Kyoto, Osaka and Kobe...
. It also runs a representative office in Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
. Following criticism for lagging behind in the establishment of a cooperative ATM network, the bank is scheduled to enter into an agreement with two other convenience store
Convenience store
A convenience store, corner store, corner shop, commonly called a bodega in Spanish-speaking areas of the United States, is a small store or shop in a built up area that stocks a range of everyday items such as groceries, toiletries, alcoholic and soft drinks, and may also offer money order and...
operators within the prefecture in March, 2006.
Profile
- Assets: Approximately ¥5 trillion (approximately $46 billion)
- Employees: 2,862
- Branches: 141 (133 branches, 8 representative offices)
- President: Chugo Marumori
- Member: Regional Banks Association of Japan
History
The 77 Bank traces its origins to an 1872 law allowing for the establishment of banks in Japan. Having received approval from the Ministry of Finance in February, 1872, The 77th National Bank was established in September in Miyagi prefectureMiyagi 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...
, an area with very limited banking services at the time. The famous industrialist of the time and president of the First National Bank, Shibusawa Eiichi, took an interest in the development of the Tohoku region; he supported the fledgling bank through advice, provision of some of his own funds, and the supply of personnel from The First National Bank when The 77th National Bank was founded.
The 77th National Bank changed its name to The 77 Bank, Ltd. in 1932, when it merged with the Tohoku Jitsugyo Bank and the Gojo Bank.
Although The 77 Bank closed representative offices and branches in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and New York
New 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...
after the collapse of the bubble economy in the 1990s, it opened a representative office in Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
in July, 2005.