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Japan has a very good and reliable banking system that is vital for the country’s economy
In addition to offering a vast range of financial services, Japanese banks have gained a good reputation for customer satisfaction. This article will take you through the list of the ten biggest banks in Japan and explain what makes them great.
1. Mitsubishi UFJ Financial Group (MUFG)
MUFG is the biggest bank in Japan and one of the biggest in the world. MUFG was established in 1880 and it offers banking, asset management, and investment services to individuals and corporations. Due to its widespread activities, it is well-positioned to meet the needs of all its clients, from a savings account holder to a large corporation.
The pace of innovation at MUFG is evident in its digital banking services that provide a simple, fast and secure way for the customer to manage their money. The bank is also involved in the promotion of sustainable development through various social and environmental initiatives.
2. Sumitomo Mitsui Financial Group (SMFG)
Another important name in the banking industry in Japan is Sumitomo Mitsui Financial Group, better known by the abbreviation SMFG. The group has several banks including Sumitomo Mitsui Banking Corporation (SMBC) as its main bank. It offers commercial banking, investment banking, asset management, and leasing services; SMFG has a focus on clients.
SMBC has a long history of supporting SMEs, which are very important for the Japanese economy. SMBC has proved to be a good partner in project financing and is well positioned to support infrastructure projects in Japan and other countries.
3. Mizuho Financial Group
Mizuho Financial Group is one of the biggest financial services companies in Japan and provides a full range of banking and financial services through its branches including Mizuho Bank and Mizuho Securities. Mizuho Financial Group is one of the biggest banks in Asia and has a strong international presence, particularly in international markets, where it helps companies that want to expand their business across borders.
The group also focuses on sustainable finance and supports projects that are aligned with the group's sustainability goals.
4. Resona Holdings
Resona Holdings is one of the biggest banking groups in Japan and the group is best known for Resona Bank. This group offers a number of products and services that include retail banking, corporate banking, and asset management. Although its core banking business is well-established in the Kansai region—which includes cities like Osaka and Kyoto—Resona Bank is known for its customer-centric approach.
Resona Bank is proud of its local enterprise support and engages in many activities that contribute to the community and corporate social responsibility, including educational and environmental programs.
5. Japan Post Bank
Japan Post Bank is special among the Japanese banks and it is a branch of Japan Post Holdings, which is owned by the government. It offers a number of products including savings and checking accounts, as well as loans, due to its large branch network.
The bank focuses on the aspect of inclusivity in order to provide banking services to all the population including the rural population and the elderly. Japan Post Bank also promotes financial education to improve the financial knowledge of its customers.
6. Nomura Holdings
Nomura Holdings is one of the leading financial services companies in Japan and has its presence felt globally. The group has investment banking and asset management as its core business through Nomura Securities, its main subsidiary.
Nomura has gained its reputation from investment banking, having advised on many large mergers and acquisitions, with the help of a strong research team that provides valuable analysis and recommendations to investors. It also has some very aggressive sustainability targets to reduce its environmental impact.
7. SBI Holdings
SBI Holdings is a financial services company with a focus on fintech that operates as a group of companies. Its subsidiaries comprise SBI Securities, one of the top online securities firms, and SBI Sumishin Net Bank, a completely digital bank.
SBI Holdings is an innovation-driven company and has been investing in the latest technologies to provide a wide range of investment products and services to its growing customer base.
8. Aozora Bank
Aozora Bank is a regional bank that offers corporate and retail banking and other products like loans and deposits. It offers its services to a number of customers, including individual customers, as well as small and medium enterprises and is based in the Tokyo metropolis.
Aozora Bank is a customer-focused bank that provides products and services to its clients and uses technological advancements to improve the banking experience. It also engages in social responsibility programmes, including a foundation that supports education and cultural activities.
9. Shizuoka Bank
Targeting the local market in Shizuoka Prefecture, Shizuoka Bank provides various financial services such as retail and corporate banking, investment and wealth management. It helps local businesses by participating in the growth of the region and getting involved in community and cultural activities.
10. Chiba Bank
Chiba Bank is another regional bank that is local to Chiba Prefecture and offers a full range of financial services, including retail banking and management of assets. The bank focuses on the needs of the customer and seeks to provide value to its customers through offering them rewarding experiences while also supporting local businesses and upholding socially responsible corporate behaviour.
