Kitato Bank Co., Ltd.

Bank , Ltd. is a regional bank with its head office in Akita City, Akita Prefecture. It is a subsidiary of Fidea Holdings Co., Ltd. (hereinafter referred to as Fidea HD), and provides financial services mainly in the Tohoku region along with Shonai Bank, which is based in Yamagata Prefecture.

overview

Kitato Bank is predecessor of Masuda Bank, which was founded in 1895 in what is now Yokote City, Akita Prefecture. It was renamed Ugo Bank in 1922, and was established in 1993 by merger of Akita Akebono Bank, the second regional bank. Currently, it is a designated financial institution such as Yokote City and Nikaho City, making a contribution to the development of the local economy. In 2009, it merged with Shonai Bank and became a subsidiary of Fidea HD, a financial holding company headquartered in Aoba Ward, Sendai City.

Origin of line names

The name "Kita" means "Akita, the capital of the north," and it contains the desire to contribute to Akita's development as a central political, economic and cultural center of the Tohoku region.

Business development

Kitato Bank is actively working on project financing to revitalize the local economy. In August 2014, he formed a syndicated loan of 500 million yen for the wind power generation project in Ishikari City, and in March 2015, he served as the secretary of one of the largest wood biomass power plants in Tohoku, which was built in an industrial park in Akita Port, along with Shinsei Bank, and originated a syndicated loan of 10.6 billion yen in total.

In February of the same year, Marubeni joined Akita Bank and others in the offshore wind power generation project being carried out at Akita Port and Noshiro Port. Furthermore, in May 2016, Wenty Japan (head office: Akita City), a member of Kitato Bank, established the Akita Gatagami Wind Farm LLC in collaboration with Mitsubishi Corporation and others. The company invested over 20 billion yen in total project costs, built wind power generation facilities along Katagami City and Akita City coasts, and began operations in the first half of 2019.

Social contribution

In January 2015, Kitato Bank received the Prime Minister's Award at the Cabinet Office's "Award for Advanced Companies in which Women Shine," and is actively promoting the promotion of female bank employees.