As of September 30, 2005
Date of Establishment
Head Office
October 19, 1895
23, Tohriyoko-cho, Numazu, Shizuoka, Japan
Number of Branches and Offices Domestic: 119
Paid-in Capital 30,043 million yen
Mt. Fuji
Shizuoka
Shizuoka Prefecture
Kanagawa Prefecture
The Greater Tokyo Area
The Greater Tokyo Area
Kanagawa
Numazu
(Head Office)
Review of Operations (Non-consolidated)
Gross Operating Income
Expenses & OHR (Overhead Ratio)
Net Operating Income & Core Net Operating Income
Ordinary Profit & Net Income
Loan Balance & Yield on Outstanding Domestic Loans
Consumer Loans
Deposits & Yield on Domestic Deposits
Interest Margin between Loans and Deposits & Net Interest Margin
Owned Capital & Capital Adequacy Ratio (Domestic Standard)
Status of Tier I and Deferred Tax Assets
Status of Non-Performing Loans
Balance and Ratio of Loans Disclosed under the Financial
Rehabilitation Law
Actual Credit Cost
Disclosure of Problem Assets
Financial Section (Preliminary figures)
Consolidated Balance Sheets
Consolidated Statements of Income
Consolidated Statements of Stockholders’ Equity
Non-Consolidated Balance Sheets
Non-Consolidated Statements of Income
1
6
8

The Company’s results for this period are shown below.
29.4
(Billions of yen)
1H 2002
33.4
1H 2003
33.7
1H 2004
36.2
1H 2005
(FY)
The gross operating income indicates the Bank’s earnings from basic banking operations. This figure comprises three elements: “Net Interest Income,” which is based on interest payments on loans; “Net
Fees and Commissions”; and “Other Operating
Income,” which includes proceeds from foreign transactions. Thanks to an increase in net interest income due to steady growth in consumer loans, as well as the growth in sales of investment trusts as investment vehicles for individuals’ assets due to increased marketing effort, Suruga Bank’s gross operating income for the reporting six-month period increased by ¥2.5 billion over the same period of the previous year, to ¥36.2 billion.
Total 18.7
1.1
63.4
10.4
Total 18.5
1.0
10.2
Total 18.3
1.2
10.1
Total 18.5
1.2
10.4
55.5
7.1
7.2
6.9
54.3
(Billions of yen)
1H 2002 1H 2003 1H 2004
OHR (Overhead Ratio) = Expenses / Gross operating income
Personnel expenses
Non-personnel expenses
Taxes
OHR (%)
6.8
51.1
1H 2005
(FY)
The OHR (overhead ratio), an efficiency indicator, improved 3.2 point year on year to 51.1%, on the increase in gross operating income.
1

2
Review of Operations
18.7
10.8
11.0
14.1
14.5
15.3
16.3 16.9
(Billions of yen)
1H 2002 1H 2003 1H 2004 1H 2005
(FY)
Net operating income = Gross operating income - Expenses - Transfer to general reserve for possible loan losses
Core net operating income = Net operating income (before transfer to general reserve for possible loan losses)
- Proceeds from bonds, including JGBs (5 accounts)
Net operating income
Core net operating income
Net operating income refers to what is referred to
“Operating profit” in the financial statements of ordinary companies. Core net operating income is net operating income plus the general reserve for possible loan losses, after deduction of net proceeds from bond-related transactions.
Core net operating income for the reporting period increased by ¥1.5 billion year-on-year, principally as a result of an increase on core gross operating income. Net operating income registered a year-on-year growth of ¥1.7 billion.
6.0
5.6
8.6
4.6
7.8
4.6
10.1
6.7
As a result of ¥1.7 billion increase in net operating income, as well as a ¥0.5 billion improvement in the Other Income/Expenses account, ordinary profit posted a year-on-year growth of ¥2.3 billion.
Net income for the six-month period was up by
¥2.1 billion over the same period of the previous year, as a result of the growth in ordinary profit and a ¥0.4 billion decrease in extraordinary losses.
(Billions of yen)
1H 2002
Ordinary profit
Net income
1H 2003 1H 2004 1H 2005
(FY)

2,151.4
2,028.2
2,043.3
2,092.6
3.20
3.17
3.15
3.07
(Billions of yen)
1H 2002 1H 2003
Loan balance
Yield on outstanding domestic loans (%)
1H 2004 1H 2005
(FY)
As a result of our sales push targeted at individuals and small-to-medium-sized enterprises, the Bank’s term-end loan balance increased by
¥58.8 billion to ¥2,151.4 billion. The yield on outstanding domestic loans was 3.20%, up 0.03
percentage point year-on-year.
1,237.6
1,067.1
1,329.0
1,159.0
1,418.7
1,251.2
1,524.8
1,343.6
70.8
67.8
65.0
(Billions of yen) 61.0
1H 2002 1H 2003 1H 2004
Consumer loans ( represents proportion of mortgage loans)
Yield on consumer loans (%)
1H 2005
(FY)
The term-end balance of consumer loans increased by ¥106.0 billion to ¥1,524.8 billion. The proportion of consumer loans as a percentage of all loans was up 3.0 percentage points at 70.8%.
3

Review of Operations
4
2,606.5
0.09
1,783.9
2,687.7
0.08
1,849.9
2,703.8
1,893.8
2,774.3
1,948.2
0.05
0.04
(Billions of yen)
1H 2002 1H 2003
Deposits ( Deposits from individuals)
Yield on domestic deposits (%)
1H 2004 1H 2005
(FY)
The balance of deposits at the end of the sixmonth period stood at ¥2,774.3 billion, a year-onyear increase of ¥70.5 billion. This rise was due chiefly to an increase in deposits from individuals.
Deposits from individuals continued to grow smoothly even after the ending of unlimited guarantees on all bank deposits in April 2005, and the balance of individuals’ deposits came to
¥1,948.2 billion, representing a year-on-year growth of ¥54.4 billion.
1.59
1.53
1.72
1.59
1.80
1.70
1.86
1.83
1.01
0.96
0.80
0.71
(%)
1H 2002 1H 2003 1H 2004
Interest margin between loans and deposits
Interest margin between loans and deposits (Domestic)
Net interest margin
1H 2005
(FY)
The interest margin between loans and deposits is calculated by subtracting the yield on deposits and the expense ratio from the yield on outstanding loans. The net interest margin indicates the difference between the yield on total managed funds and total procured funds. Due to our continued focus on the promotion of loans to the retail sector where there is a high interest margin, especially on consumer loans, the interest margin between loans and deposits (domestic) recorded a year-on-year increase of 0.03 percentage point to 1.83%.

152.8
141.3
125.9
129.8
10.32
9.75
9.14
9.70
8.93
8.54
7.93
8.32
(Billions of yen)
1H 2002 1H 2003 1H 2004 1H 2005
(FY)
Capital adequacy ratio = [Owned Capital (Basic items + Supplementary items) /Risk assets] X 100
Tier I capital adequacy ratio = [Owned Capital (Basic items: Tier I) /Risk assets] X 100
Owned capital
Capital adequacy ratio (%)
Tier I capital adequacy ratio (%)
The Bank’s owned capital comprises the Tier I capital (including its capital stock, surpluses, and reserves) and Tier II capital (including the general reserve for possible loan losses). With an increase in internal reserves, the Bank’s capital adequacy ratio at the end of this six-month period increased stood at 10.32%, up 0.57 percentage point year-onyear. Only the maximum amount for the reserve for possible loan losses is recorded as a Tier II item in our statements, with qualifying capital and gains on the revaluation of land not recorded.
44.0
143.8
132.5
116.9
120.9
36.9
51.5
44.6
25.6
34.0
(Billions of yen)
1H 2002
Tier I
Deferred tax assets
Deferred tax assets/Tier I (%)
1H 2003 1H 2004
26.1
18.1
1H 2005
(FY)
As a result of a ¥11.2 billion increase in Tier I capital and a ¥7.8 billion decrease in deferred tax assets, the ratio of deferred tax assets to Tier I capital fell 7.5 points to 18.1%, showing qualitative improvement in capital adequacy. A figure is recorded for deferred tax assets that represents anticipated future returns on taxes already paid.
5

6
Total 193.5
25.8
9.45
Total 161.6
Total 152.8
91.7
31.0
7.84
28.5
Total 118.1
66.8
71.1
7.23
19.1
48.8
75.9
63.6
53.0
50.1
5.44
(Billions of yen)
1H 2002 1H 2003 1H 2004 1H 2005
(FY)
Ratio of loans disclosed under the Financial Rehabilitation Law = Balance of loans disclosed/Total extended credit
Substandard claims
Doubtful claims
Bankrupt and substantially bankrupt claims
Ratio of loans disclosed under the Financial Rehabilitation Law (%)
The non-consolidated balance of loans disclosed in accordance with the disclosure standards provided for under the Financial Rehabilitation Law decreased ¥34.7 billion year-on-year to ¥118.1
billion at the end of the reporting period. Of this total, Bankrupt and substantially bankrupt claims accounted for ¥19.1 billion, Doubtful claims accounted for ¥48.8 billion, and Substandard claims amounted to ¥50.1 billion of the total. The ratio of claims subject to mandatory disclosure to total extended credit was down 1.79 of a percentage point year-on-year to 5.44% at the end of the reporting period.
4.8
0.48
5.8
0.57
6.5
0.64
6.7
0.64
Actual credit cost for first half of fiscal 2005 increased ¥0.1 billion over the same period of the previous year, to stand at ¥6.7 billion, as a result of the accelerated disposal of non-performing loans.
Credit costs accounted for 0.64% of the average loan balance, unchanged from the corresponding period of the previous year.
(Billions of yen)
1H 2002 1H 2003 1H 2004 1H 2005
(FY)
Actual credit cost = transfer to general reserve + amount for non-performing loan disposal - collection of claims written off
Ratio of actual credit cost to average loan balance = actual credit cost divided by average loan balance
Actual credit cost
Ratio of actual credit cost to average loan balance (%)

Classification under Self-Assessment
Target: Total balance of extended credit
Legally bankrupt borrowers 3.2
D i s c l o s u r e o f P r o b l e m A s s e t s
Problem Assets Based on the Financial Rehabilitation Law
Target: Total balance of extended credit, except substandard
claims(only loans are counted in.)
Covered by collateral and guarantees
Covered by reserves
Coverage ratio
Bankrupt and Substantially
Bankrupt Claims
19.1
15.2 3.9 %
Substantially bankrupt borrowers 15.8
Potentially bankrupt borrowers 48.8
Doubtful Claims 48.8
29.9 15.9 %
Borrowers under supervision 71.5
Substandard Claims 50.1
22.0 9.0 %
Other borrowers requiring caution 171.6
Sub-total 118.1
67.2
28.9 81.41
%
Loans disclosed in accordance with the Financial
Rehabilitation Law ... 118.1 billion yen
Normal borrowers 1,859.7
Normal assets 2,052.7
5.44
%
Total 2,170.8
Total 2,170.8
Total balance of extended credit: Loans, Customers’ Liabilities for Acceptances and Guarantees, Foreign exchange, Securities loaned, Suspense payments on loans, Accrued loan interests.
Ratio to total balance of extended credit
81.41
Coverage ratio
%
(As of September 30, 2005)
(Billions of yen)
Risk-Managed Loans
Target: Loans
Loans to bankrupt borrowers 2.9
Loans past due 64.2
Past due for 3 months or longer 1.6
Restructhred loans 48.4
Total 117.3
Risk-managed loans to total loans ...117.3 billion yen
5.45
%
81.28
%
Ratio of risk-managed loans to total loans
Coverage ratio
Classifications of Borrowers under Self-Assessment
Legally bankrupt borrowers: Borrowers who have been legally or formally declared bankrupt.
Substantially bankrupt borrowers: Borrowers who have not been legally or formally declared bankrupt, but who are suffering from serious management difficulties with no prospect of revitalization, and are therefore substantially bankrupt.
Potentially bankrupt borrowers:
Borrowers requiring caution:
Borrowers who are not bankrupt, but who are suffering from management difficulties, who have not made progress with business improvement plans, and who are found to have a rather high risk of bankruptcy in the future.
Borrowers with problematic lending conditions such as interest waivers and the like, borrowers who are having problems fulfilling their obligations and who are already in arrears for repayments of principal or interest, borrowers facing poor or unstable business conditions, and borrowers with a problematic financial status are those that require future caution.
Borrowers under supervision: Those borrowers - within the category of borrowers requiring caution who are three or more months in arrears or have had loans restructured
(Borrowers whose loans in part or in full constitute loans requiring supervision under the Financial Rehabilitation Law.)
Other borrowers requiring caution: Borrowers requiring caution other than those classified as substandard.
Normal borrowers: Borrowers whose business results are favorable and who are found not to have any particular problems in terms of their financial status.
Overview of Write-offs and Reserves under Self-Assessment
Legally bankrupt borrowers and substantially bankrupt borrowers:
Potentially bankrupt borrowers:
The amount remaining after the deduction of the amount of collateral considered to be disposable and the amount recoverable under guarantees from the loan balance is either written off or is recorded as a reserve for bad debt.
A portion of the reserve as deemed necessary is provided based on the amount remaining after deduction of the amount of collateral considered to be disposable and the amount recoverable under guarantees after giving full consideration to the percentage of actual defaults over a fixed period in the past.
Borrowers requiring caution
(Borrowers under supervision and other borrowers requiring caution):
Based on the predicted loss ratio where any necessary adjustments for future expectations have been incorporated into an appropriate loan loss ratio calculated for the average remaining period, the anticipated loss over the next three years in the case of substandard borrowers, and over the next one year in the case of other borrowers, are recorded as a general reserve for possible loan losses.
Normal borrowers: Based on the predicted loss ratio where any necessary adjustments for future expectations have been incorporated into an appropriate loan loss ratio calculated for the average remaining period, the anticipated loss over the next one year is recorded as a general reserve for possible loan losses.
7

8
Suruga Bank Ltd. and consolidated subsidiaries
As of September 30,
ASSETS:
Cash and Due from Banks
Call Loans and Bills Bought
Monetary Claims Bought
Trading Account Securities
Money Held in Trust
Securities
Loans and Bills Discounted
Foreign Exchanges
Other Assets
Premises and Equipment
Deferred Tax Assets
Customers’ Liabilities for Acceptances and Guarantees
Reserve for Possible Loan Losses
Total Assets
LIABILITIES, MINORITY INTEREST AND STOCKHOLDERS’ EQUITY:
Liabilities
Deposits
Negotiable Certificates of Deposit
Borrowed Money
Foreign Exchanges
Other Liabilities
Reserve for Employees’ Bonus
Reserve for Employee Retirement Benefits
Reserves under Special Laws
Acceptances and Guarantees
Total Liabilities
2005
Millions of yen
Change from
2004 2004
67,742
230,770
405
399
26,034
52,516
26,926
8,121
(40,237)
2,965,824
56,861
161,649
10
199
2,218
442,248
1,404
492,647
2,146,628 2,087,237
2,049 906
26,816
52,117
34,799
9,673
(43,048)
2,881,276
2,773,180 2,703,113
— 5,000
9,024
9
9,987
10
23,026
542
395
0
8,121
18,426
550
220
0
9,673
2,814,299 2,746,981
10,881
69,121
395
200
814
(50,399)
59,391
1,143
(782)
399
(7,873)
(1,552)
2,811
84,548
70,067
(5,000)
(963)
(1)
4,600
(8)
175
—
(1,552)
67,318
Thousands of
U.S. dollars
2005
24,500,223
—
79,724
87
203,434
4,792
3,490
0
71,749
24,863,502
Minority Interest 300 267 33 2,654
Stockholders’ Equity
Common Stock
Capital Surplus
Retained Earnings
Net Unrealized Gains (Losses) on Securities, Net of Taxes
Treasury Stock
Total Stockholders’ Equity
Total Liabilities, Minority Interest and Stockholders’ Equity
30,043
18,585
99,282
7,656
(4,344)
151,223
2,965,824
30,043
18,585
87,807
2,234
(4,644)
134,026
2,881,276
—
—
11,475
5,422
300
17,197
84,548
Notes: 1. Figures less than 1 million yen are omitted.
2. Figures stated in U.S. dollars in this report are translated from Japanese yen, solely for convenience, at the rate of ¥113.19 per
1 U.S. dollar, the rate prevailing at September 30, 2005.
265,423
164,200
877,135
67,641
(38,382)
1,336,017
26,202,174
598,481
2,038,785
3,579
3,531
19,596
3,907,133
18,964,826
18,106
230,010
463,971
237,889
71,749
(355,486)
26,202,174

Suruga Bank Ltd. and consolidated subsidiaries
For the Six Months Ended September 30,
Ordinary Income
Interest Income
Interest on Loans and Discounts
Interest and Dividends on Securities
Fees and Commissions
Other Operating Income
Other Income
Ordinary Expenses
Interest Expenses
Interest on Deposits
Fees and Commissions
Other Operating Expenses
General and Administrative Expenses
Other Expenses
Ordinary Profits
Extraordinary Profits
Extraordinary Losses
Income before Income Taxes and Others
Provision for Income Taxes and Others
Deferred Income Taxes
Minority Interest
Net Income
2005
10,406
771
547
10,631
3,526
211
45
6,848
47,786
36,955
35,103
1,696
6,174
4,088
568
37,380
3,153
786
3,206
2,676
19,184
9,159
Millions of yen
Change from
2004 2004
44,312
34,628
32,657
1,923
5,491
3,715
478
36,174
1,862
704
3,128
3,114
19,038
9,030
8,137
470
709
7,898
336
2,753
56
4,751
2,269
301
(162)
2,733
3,190
(2,542)
(11)
2,097
1,206
1,291
82
78
(438)
146
129
3,474
2,327
2,446
(227)
683
373
90
Thousands of
U.S. dollars
Notes: 1. Figures less than 1 million yen are omitted.
2. Figures stated in U.S. dollars in this report are translated from Japanese yen, solely for convenience, at the rate of ¥113.19 per
1 U.S. dollar, the rate prevailing at September 30, 2005.
2005
91,938
6,819
4,835
93,923
31,152
1,865
400
60,505
422,182
326,486
310,128
14,983
54,547
36,123
5,024
330,244
27,859
6,949
28,327
23,649
169,490
80,917
9

10
Suruga Bank Ltd. and consolidated subsidiaries
For the Six Months Ended September 30, 2005
Millions of yen
Change from
2004 2004
Thousands of
U.S. dollars
2005
Capital Surplus
Balance of Capital Surplus at Beginning of Year
Decrease
Losses on Sales of Treasury Stock
Balance of Capital Surplus at End of Period
Retained Earnings
Balance of Retained Earnings at Beginning of Year
Increase
Net Income
Decrease
Dividends
Bonus for Directors and Corporate Auditors
Losses on Sales of Treasury Stock
Balance of Retained Earnings at End of Period
18,585
—
—
18,585
93,136
6,848
6,848
702
647
30
24
99,282
18,586
0
0
18,585
83,735
4,751
4,751
679
647
30
1
87,807
(1)
(0)
(0)
—
9,401
2,097
2,097
23
(0)
—
23
11,475
164,200
—
—
164,200
Notes: 1. Figures less than 1 million yen are omitted.
2. Figures stated in U.S. dollars in this report are translated from Japanese yen, solely for convenience, at the rate of ¥113.19 per
1 U.S. dollar, the rate prevailing at September 30, 2005.
822,831
60,505
60,505
6,202
5,723
265
213
877,135
PRINCIPLES OF CONSOLIDATION
The accompanying consolidated financial statements include the accounts of the Bank and its subsidiaries, which are as follows:
Suruga Business Service Co., Ltd.
Suruga Staff Service Co., Ltd.
A.P.I.Co., Ltd.
Suruga Capital Co.,Ltd.
Suruga Computer Service Co., Ltd.
Suruga Card Co., Ltd.
Suruga Credit Service Co., Ltd.
All significant intercompany accounts and transactions have been eliminated in consolidation.

Suruga Bank Ltd.
As of September 30,
ASSETS:
Cash and Due from Banks
Call Loans
Monetary Claims Bought
Trading Account Securities
Money Held in Trust
Securities
Loans and Bills Discounted
Foreign Exchanges
Other Assets
Premises and Equipment
Deferred Tax Assets
Customers’ Liabilities for Acceptances and Guarantees
Reserve for Possible Loan Losses
Total Assets
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Liabilities
Deposits
Negotiable Certificates of Deposit
Borrowed Money
Foreign Exchanges
Other Liabilities
Reserve for Employees’ Bonus
Reserve for Employee Retirement Benefits
Reserves under Special Laws
Acceptances and Guarantees
Total Liabilities
2005
Millions of yen
Change from
2004 2004
66,937
230,770
405
399
2,218
441,430
1,404
491,871
2,151,454 2,092,608
2,049 906
19,069
41,735
26,156
8,127
(38,254)
2,952,499
55,699
161,649
10
199
20,241
40,163
34,000
9,679
(41,298)
2,867,137
2,774,360 2,703,832
— 5,000
—
9
7
10
17,035
508
263
0
8,127
12,597
508
75
0
9,679
2,800,305 2,731,711
11,238
69,121
395
200
814
(50,441)
58,846
1,143
(1,172)
1,572
(7,844)
(1,552)
3,044
85,362
70,528
(5,000)
(7)
(1)
4,438
0
188
—
(1,552)
68,594
Thousands of
U.S. dollars
2005
591,373
2,038,785
3,579
3,531
19,596
3,899,909
19,007,464
18,106
168,470
368,716
231,084
71,802
(337,963)
26,084,457
24,510,648
—
—
87
150,502
4,496
2,327
0
71,802
24,739,864
Stockholders’ Equity
Common Stock
Capital Surplus
Capital Surplus Reserve
Retained Earnings
Earned Surplus Reserve
Voluntary Reserves
Unappropriated Profits at the End of the Term
Net Unrealized Gains (Losses) on Securities, Net of Taxes
Treasury Stock
Total Stockholders’ Equity
Total Liabilities and Stockholders’ Equity
30,043
18,585
18,585
98,342
30,043
59,872
8,427
7,585
(2,362)
152,194
2,952,499
30,043
18,585
18,585
87,089
30,043
51,072
5,974
2,242
(2,535)
135,425
2,867,137
—
—
—
11,253
—
8,800
2,453
5,343
173
16,769
85,362
Notes: 1. Figures less than 1 million yen are omitted.
2. Figures stated in U.S. dollars in this report are translated from Japanese yen, solely for convenience, at the rate of ¥113.19 per
1 U.S. dollar, the rate prevailing at September 30, 2005.
265,423
164,200
164,200
868,827
265,423
528,953
74,451
67,018
(20,876)
1,344,593
26,084,457
11

12
Suruga Bank Ltd.
Millions of yen
Change from
2004 2004
Thousands of
U.S. dollars
For the Six Months Ended September 30,
Ordinary Income
Interest Income
Interest on Loans and Discounts
Interest and Dividends on Securities
Fees and Commissions
Other Operating Income
Other Income
Operating Expenses
Interest Expenses
Interest on Deposits
Fees and Commissions
Other Operating Expenses
General and Administrative Expenses
Other Expenses
Ordinary Profits
Extraordinary Profits
Extraordinary Losses
Income before Income Taxes and Others
Provision for Income Taxes and Others
Deferred Income Taxes
Net Income
Unappropriated Profits at the Beginning of the Term
Losses on Sales of Treasury Stock
Unappropriated Profits at the End of the Term
2005
10,174
755
536
10,393
3,193
401
6,799
1,652
24
8,427
43,569
36,221
34,372
1,693
5,878
900
568
33,394
3,147
786
3,541
66
18,544
8,095
Notes: 1. Figures less than 1 million yen are omitted.
2. Figures stated in U.S. dollars in this report are translated from Japanese yen, solely for convenience, at the rate of ¥113.19 per
1 U.S. dollar, the rate prevailing at September 30, 2005.
2,360
297
(173)
2,829
3,109
(2,461)
2,182
295
23
2,453
1,305
1,331
82
130
(438)
31
251
3,666
2,416
2,535
(228)
810
318
121
7,814
458
709
7,564
84
2,862
4,617
1,357
1
5,974
39,903
33,805
31,837
1,921
5,068
582
447
32,089
1,816
704
3,411
504
18,513
7,844
2005
89,889
6,674
4,738
91,826
28,215
3,542
60,068
14,596
213
74,451
384,923
320,003
303,674
14,961
51,938
7,958
5,023
295,033
27,805
6,950
31,288
584
163,836
71,519

Printed in Japan