Bank of the Ryukyus, Ltd. was established in 1948 under an ordinance of the U.S. military government for the purpose of “restoring financial order and stabilizing the currency” in order to facilitate the sound development of the Okinawan economy. From its founding up to the reversion of Okinawa to Japanese jurisdiction, the Bank dedicated itself to promoting the development of the prefectural economy in its role as the region’s de facto central bank.

When Okinawa was restored to Japanese jurisdiction in 1972, the Bank reverted to the status of an ordinary bank subject to Japanese banking law, and as the prefecture’s leading bank, it facilitated the shift to the Japanese economic and financial systems. In 1983, we became the first bank in Okinawa to be listed on the stock exchange, and in 1986 construction of our Computer Center was completed. In 1988, we established the Bank of the Ryukyus Foundation for the Promotion of Internationalization as well as the Ryugin Financial Archives. In this way, the Bank has been simultaneously working to strengthen its business structure and actively contribute to the prosperity of the regional community.

In September 1999, in an effort to strengthen the soundness of its assets and financial structure, the Bank made a ¥22.7 billion equity private placement and received an injection of ¥40 billion in public funds.

In June 2002, the decision was made to adopt an executive officer system, with the aim of developing a more rapid response to changes in the banking environment, while enhancing the Bank’s competitiveness as well as its level of overall efficiency.

At the end of fiscal 2001, the year ended March 31, 2002, the total assets of the Bank amounted to ¥1,427.4 billion (US$10,712.2 million) on a consolidated basis, and its capital ratio, calculated by domestic standards, stood at 9.33%.

The Bank of the Ryukyus (or Ryugin) Group is composed of the Bank, six subsidiaries and one affiliated company. Although banking is its core business, the Group offers a range of comprehensive financial services in the areas of trust banking, credit cards, leasing and securities.