Industry Banking Founded 1 September 2006 | Customer service 00 81 480-96-7628 Parent organization Japan Post Holdings | |
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Type Government-owned corporation Key people Koji Furukawa (Chairman and CEO),
Syokichi Takagi (President and COO) Total assets JPY 196 trillion (March 31, 2012) Total equity JPY 9.8 trillion (March 31, 2012) Number of employees 12,796 (March 31, 2012) Stock price 7182 (TYO) JP¥ 1,423 0.00 (0.00%)9 Mar, 3:00 PM GMT+9 - Disclaimer Headquarters Chiyoda, Tokyo, Tokyo, Japan | ||
Japan post bank
Japan Post Bank Co., Ltd. (株式会社ゆうちょ銀行, Kabushiki-gaisha Yū-cho Ginkō, commonly abbreviated to ゆうちょ銀行 (Yū-cho Ginkō), or just ゆうちょ (Yū-cho)), is a Japanese bank headquartered in Tokyo which is part of the Japan Post Holdings postal and financial services group.
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As of November 2008 it was reported as being the world's biggest deposit holder. It is one of only two banks to have branches in every prefecture in Japan, the other being Mizuho Bank.
History
Postal savings was introduced to Japan in 1875 and operated as a government department until privatization of the postal service was passed under the government of Prime Minister Junichiro Koizumi.
The bank was established on 1 September 2006, as part of the reorganisation of Japan Post into Japan Post Holdings.
Prior to 2009, Japan Post was not connected to the Japanese Bankers Association (Zenginkyo) payment processing network, making it impossible to wire money directly between Japan Post and most other Japanese banks. Japan Post Bank joined the network in January 2009 and became a full JBA member in October 2011.
Products
Unlike most commercial banks, Japan Post Bank is primarily a savings institution. Its only loan products are overdraft lines secured by time deposits and Japanese government bonds on deposit with the bank.
Japan Post Bank offers a nationwide ATM network which can be used to withdraw money with international bank cards and credit cards. Japan Post Bank has a contract with Standard Chartered Bank to facilitate wire-transfer remittances of funds internationally.