is a Japanese regional bank founded in Saitama Prefecture in 1943. After a series of bank mergers and corporate restructuring, the emerged as the leading bank in Saitama Prefecture. "R&I Assigns A-: Saitama Resona Bank, Ltd. Sub-Bonds No. 2," Rating and Investment Information (R&I, Japan). December 10, 2010.

History The head office of Saitama Bank was located in Urawa, Saitama, with more than 170 branches in Japan. Overseas branches included Singapore, London, New York, Hong Kong and Brussels.Nussbaum, Louis-Frédéric. (2005). "Saitama Ginko" in .

In 1990, the bank's financial instability was revealed. Its directors were alleged to have mismanaged corporate assets and breached fiduciary duties by purchasing a large block of stock in a Japanese manufacturing company at what were grossly inflated prices.Kristof, Kathy M. "Japanese Bank Wasted Assets, Suit Charges," Los Angeles Times (US). February 27, 1990; retrieved 2011-07-18

In 1991, Kyowa Bank and Saitama Bank merged to form one of the world's largest banks with deposits totaling about $177 billion. "Merger Decision IV/M.69, Kyowa/Saitama Bank," Commission of the European Communities (EU). 7 March 1991; retrieved 2011-07-18 This was construed as triggering reorganization of Japan's banking industry. "Japanese Banks Plan Merger," New York Times (US). November 14, 1990; "Bank Merger Wave Seen as 2 in Japan Agree to Join Forces," Los Angeles Times. November 14, 1990; retrieved 2011-07-18 In 1992, the combined banks were renamed Asahi Bank; and this bank merged with Daiwa Bank in 2002.Europa. (2002). "Asahi Bank", in ; Asahi Bank; retrieved 2011-07-18

In 2002, corporate restructuring established Resona Holdings and the Saitama Resona Bank.Resona Holdings, Major Group Companies; retrieved 2011-07-18

See also

List of banks in Japan Dai-Ichi Kangyo Bank Kiyoshi IzawaGM,CBD

Notes

References Nussbaum, Louis-Frédéric and Käthe Roth. (2005). Japan encyclopedia. Cambridge: Harvard University Press. ; OCLC 58053128

External links Resona Holdings, Inc. Wang v. Saitama Bank, United States Court of Appeals for the Ninth Circuit, July 25, 1991; 940 F2d 670 New York State Banking Department, Saitama Bank, Ltd. AGS Corporation