BDO Unibank Inc. has tapped several deals with some Japan Regional Banks (JRBs) to bolster its bid to support Japanese investors who are interested in operating in the Philippines.
In a statement, BDO, which recently signed a memorandum of understanding with Japan Bank for International Cooperation (JBIC), said that its agreements with JRBs will help promote the development of a framework to support Japanese mid-tier companies, as well as small- and medium-scale enterprises (SMEs), through Japanese regional financial institutions.
The JRBs, according to the Henry Sy-led bank, will serve as conduits for their SME clients that will be requiring banking support when they decide to set up shop in the country. The JRBs are composed of Hokuto Bank Ltd., Shonai Bank Ltd., Joyo Bank Ltd., Chiba Kogyo Bank Ltd., Juroku Bank Ltd., Awa Bank Ltd. and Daisan Bank Ltd.
“As one of the country’s leading financial institutions, BDO can provide the Japanese SMEs financial and nonfinancial advisory services, and other products that can aid them in their expansion,” BDO said in its disclosure to the Philippine Stock Exchange.
The bank further said that it continues to collaborate closely with JBIC to explore more tie-ups and potentially assist Japanese SMEs in establishing operations throughout the Philippines, including within special economic zones.