Japan’s banking sector is dominated by three giants. At the forefront is Mitsubishi UFJ Bank. It is not only the largest bank in Japan but also a significant player globally. Following closely is Sumitomo Mitsui Banking Corporation, with its vast network and services. In third place is Mizuho Bank, known for its comprehensive banking solutions. These banks are crucial in shaping Japan’s economy. 

On the contrary, there are also some renowned regional banks serving different parts of the country. Let’s move forward and raise the curtain from the top 10 largest banks in Japan, uncover their history, and explore the services they offer. 

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Top 10 Largest Banks in Japan 

• MUFG Bank
• Sumitomo Mitsui Banking Corporation
• Mizuho Bank
• Resona Bank
• Kansai Mirai Bank
• The Bank of Yokohama
• Daishi Hokuetsu Bank
• The Shizuoka Bank
• The Hokuriku Bank
• The Juhachi-Shinwa Bank

1- MUFG Bank

MUFG Bank is officially known as Mitsubishi UFJ Bank. It is the largest bank in Japan, established in 2006. It emerged from the merger of the Bank of Tokyo-Mitsubishi and UFJ Bank Limited and quickly rose to prominence. 

The history of MUFG Bank is linked with that of Mitsubishi Bank, founded in 1880 by Iwasaki Yatarō, a former samurai. Over the years, it underwent significant transformations, including a merger with the Bank of Tokyo. The merger set the stage for its eventual formation as MUFG Bank, which now plays a crucial role in retail, corporate, and investment banking.

MUFG serves a diverse clientele both domestically and internationally. In 2024, MUFG Bank continues to shine, not just in size but also in reputation. It has a net worth of $112.57 billion. The bank has been recognized with several prestigious awards, including the Best Customer Implementation and the Best Social Impact Adviser.

2- Sumitomo Mitsui Banking Corporation

Sumitomo Mitsui Banking Corporation (SMBC) is the second largest bank in Japan. It is part of Sumitomo Mitsui Financial Group. Established in 2001, it emerged from the merger of Sumitomo Bank and Mitsui Bank. The merger aimed to create a more competitive entity capable of addressing the needs of customers in a globalized economy.

SMBC offers various financial services, including retail banking, corporate banking, and investment banking. It has built a reputation for its strong risk management practices and strategic partnerships with international institutions. The bank focuses on innovation and customer service, adapting to market changes and technological advancements.

As of March 2024, Sumitomo Mitsui Banking Corporation has a net worth of $82.56 billion. This positions it as one of the significant players in the global banking sector. On the other hand, SMBC has also benefited from Japan’s shift away from negative interest rates, allowing it to enhance profitability through increased lending. 

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3- Mizuho Bank

Mizuho Bank, part of the Mizuho Financial Group, is Japan’s third-largest financial institution. It was established in 2003 as a result of the merging of many banks, including the Fuji Bank, the Industrial Bank of Japan, and the Dai-Ichi Kangyo Bank. 

Over the years, Mizuho Bank has evolved into a comprehensive financial service provider. It offers several services, including retail banking, corporate banking, asset management, and securities services. The bank is known for its dedication to innovation and sustainability. 

In 2024, Mizuho Bank’s net worth is $48.66 billion. On the other hand, it has received numerous awards for its services and corporate governance. For instance, the bank was awarded the “Best Bank for Sustainable Finance” in Japan. Mizuho has also been acknowledged for its customer service and innovative financial products, earning it a loyal customer base. 

4- Resona Bank

Resona Bank is a part of the Resona Group holding company. The group was founded in 1918 and operates through its subsidiaries, including Resona Bank, Saitama Resona Bank, and Kinki Osaka Bank. 

The Resona Bank provides a range of banking and financial services to individuals and businesses across the country. The bank offers individuals a variety of accounts in addition to loans, mortgages, and insurance. On the other hand, pensions, trusts, real estate, international business solutions, and payment services are among the services offered to corporate clients.

It has been recognized for its excellence in retail banking, receiving various awards over the years. The bank’s commitment to forming long-term relationships with its customers and contributing to the sustainable development of local communities has been a driving force behind its success. The group has also been at the forefront of digital banking. 

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5- Kansai Mirai Bank

Kansai Mirai Bank is the fifth largest bank in Japan. It was established through the merger of two banks. The bank was formed from the consolidation of the Kansai Urban Banking Corporation and Kinki Osaka Bank Ltd.

Since its inception, Kansai Mirai Bank has focused on serving the Kansai region, which includes major cities like Osaka and Kyoto. The bank provides a variety of financial services, including retail banking, corporate banking, startup support, and asset management.

The bank has received several awards for its innovative banking solutions and customer service excellence. It has been recognized for its efforts in promoting digital banking, which has become increasingly important in today’s financial environment. 

6- The Bank of Yokohama

The Bank of Yokohama, known as BOY, is the sixth largest bank in Japan. It is headquartered in Yokohama. Established in 1920, it is now owned by Concordia Financial Group.

The BOY is the oldest modern financial institution in Japan. Over the years, the bank expanded its services and reach, operating 632 domestic offices and five international branches in cities like Shanghai and New York.

For everyday banking, it offers an Ordinary Deposit Account. For corporate clients, the bank also offers business management and advisory services, cards, funding, payment, and international trade products. These strategic initiatives allowed BOY to strengthen its market position.

The Bank of Yokohama is recognized for its customer service and innovation in financial products. The bank has also been acknowledged for its efforts in promoting sustainable finance and supporting local communities. 

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7- Daishi Hokuetsu Bank

In 2001, The Daishi Bank and Hokuetsu Bank merged to establish Daishi Hokuetsu Bank. Today, it is the seventh largest bank in Japan, headquartered in Niigata. The bank was formed to strengthen financial services in the area. 

The bank offers various financial services. These include personal banking, corporate banking, and investment services. For individuals, Daishi Hokuetsu Bank provides savings accounts, loans, and credit cards. For businesses, it offers various financing options, cash management services, and investment advice. 

In recent years, Daishi Hokuetsu Bank has received several awards and has been recognized for its innovative digital banking solutions, which enhance customer experience and accessibility. The bank is also playing a critical role in making the Japanese economy much stronger than ever. 

8- The Shizuoka Bank

Shizuoka Bank was established in 1941. It is the eighth-largest bank in Japan and primarily serves the Tokai region between Tokyo and Osaka. Over the years, it has grown and built strong relationships with local businesses.

The bank services include retail banking, corporate banking, and asset management. Its retail banking services cater to individuals with various products such as savings accounts, personal loans, credit cards, and foreign exchange services. 

For businesses, Shizuoka Bank provides tailored solutions like corporate loans, treasury services, and investment advice. It has consistently ranked among the top regional banks in Japan and emphasized community involvement, supporting regional development projects.

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9- The Hokuriku Bank

The Hokuriku Bank is the ninth-largest bank in Japan, founded in 1877. Initially, it expanded its branch network through trade routes used by Kitamae-bune, or Northbound Ships, which facilitated commerce in the region. 

Over the years, Hokuriku Bank grew to serve not only local clients but also those in Hokkaido and major metropolitan areas like Tokyo, Osaka, and Nagoya. In 2004, it merged with Hokkaido Bank to form the Hokuhoku Financial Group.

Hokuriku Bank offers many financial services to meet the needs of individuals and small to medium-sized enterprises. Its offerings include personal banking services such as savings accounts, loans, and investment products. For businesses, the bank provides corporate banking solutions, including financing, treasury services, and consulting. 

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10- The Juhachi-Shinwa Bank

The Juhachi-Shinwa Bank is one of the largest banks in Japan. The Juhachi-Shinwa Bank is a modern-day bank that is owned by the Fukuoka Financial Group. It was established after the Shinwa Bank and the Eighteenth Bank merged in 2020.

Its extensive network of branches and ATMs ensures convenient access to banking services for individuals and businesses. The bank offers a wide range of products, including personal banking, corporate banking, and wealth management solutions, catering to the diverse financial needs of its clientele.

In 2024, the bank was honored as the Best Regional Bank in Japan by the prestigious Global Finance magazine. The Juhachi-Shinwa Bank has also been a recipient of the Japan Banker’s Association’s Award for Excellence in Financial Education. 

Ranking	Bank’s Name	Head Office
1	MUFG	Tokyo
2	SMBC	Tokyo
3	Mizuho Bank	Tokyo
4	Resona Bank	Osaka
5	Kansai Mirai Bank	Osaka
6	The Bank of Yokohama	Yokohama
7	Daishi Hokuetsu Bank	Niigata
8	The Shizuoka Bank	Shizuoka
9	The Hokuriku Bank	Toyama
10	The Juhachi-Shinwa Bank	Nagasaki

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Conclusion 

These financial institutions in Japan control the majority of the nation’s banking industry. MUFG Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank lead the industry, representing the “big three” that play a central role in Japan’s economy. These banks have extensive domestic and international operations, offering a wide range of financial services. Resona Bank and Kansai Mirai Bank also hold significant positions.

Banks like The Bank of Yokohama and Daishi Hokuetsu Bank are prominent in specific regions, contributing to the economic vitality of their areas. Similarly, The Shizuoka Bank, The Hokuriku Bank, and The Juhachi-Shinwa Bank are key players in their respective regions, supporting local businesses and communities. 

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