February 28, 2015 3:16 PM ET

Banks

Company Overview of Resona Bank, Ltd.

Company Overview

Resona Bank, Ltd. provides banking and trust banking services. It offers time and foreign currency deposits; and mortgage and mortgage refinancing, card, car, education, and home improvement loans. The company also provides investment trust, government and foreign bond, money in trust, and fund management services; personal pension, life and medical insurance, and telephone banking, debit and credit card, payment, and currency exchange services. Resona Bank, Ltd. was formerly known as Daiwa Bank, Ltd. and changed its name to Resona Bank, Ltd. in March, 2003. The company was founded in 1918 and is headquartered in Tokyo, Japan. Resona Bank, Ltd. operates as a subsidiary of Resona Holdings, In...

Fukagawa Gatharia W2 Building

5-65, Kiba 1-Chome, Koto-ku

Tokyo,  135-8582

Japan

Founded in 1918

9,605 Employees

Phone:

81 3 6704 2111

Fax:

81 3 5632 5492

Key Executives for Resona Bank, Ltd.

President, Executive Officer and Representative Director
Age: 57
Deputy President, Executive Officer and Director
Age: 54
Senior Managing Executive Officer
Executive Officer and Representative Director
Age: 53
Senior Managing Executive Officer
Compensation as of Fiscal Year 2014.

Resona Bank, Ltd. Key Developments

Resona Bank Reports Unaudited Earnings Results for the Nine Months Ended December 31, 2014

Resona Bank reported unaudited earnings results for the nine months ended December 31, 2014. For the period, the company reported actual net operating profit of JPY 128.7 billion against JPY 110.7 billion a year ago. Core net operating profit was JPY 110.9 billion against JPY 110.9 billion a year ago. Net income was JPY 134.6 billion against JPY 117.7 billion a year ago. Income before income taxes was JPY 188.3 billion against JPY 169.6 billion a year ago. Ordinary profit was JPY 190.3 billion against JPY 171.5 billion a year ago. Interest income was JPY 200.5 billion against JPY 196.8 billion a year ago.

Four Banks Likely To Bid For Citi's Consumer Banking Business

Shinsei Bank, Limited (TSE:8303), Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank and Resona Bank, Limited are likely to participate in the second round of bid for Citigroup Inc. (NYSE:C) consumer banking business in Japan, bankers with knowledge of the matter said. The sale also includes Citibank's Diners Club card business. The highest offer for the unit was around ¥50 billion in the first round of bid and the bidders in the second round may now offer less than that after taking a closer look at the unit's assets, said a bank executive. Citi is expected to pick a buyer for the Japanese business as early as in December 2014.

Resona Bank to Open Representative Office in Ho Chi Minh City

Resona Bank will open a representative office in Ho Chi Minh City in order to help the bank's small and midsize corporate customers expand into the Vietnamese market. The company also expressed hope to forge alliances with banks in Myanmar and Cambodia. The Ho Chi Minh office will be the first overseas foothold to be set up by the group after Resona Bank came under effective state control in 2003. The bank aims to open the office in October after consultations with the Vietnamese authorities. Resona Bank's four existing overseas representative offices in Asia including one in Shanghai were all opened before the effective nationalization.

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