Metrobank banking arm First Metro Investment Corp. (FMIC) signed a memorandum of understanding with Tokai Tokyo Financial Holdings Inc. in Japan to ensure expansion in the Asia region.
In a statement, FMIC President Juanchito Dispo said that the partnership is viewed to increase visibility and services of the company in Asia, which would include on the job offerings, promotions and establishment of trust products, among others.
“This strategic partnership is a significant step in pursuing our goal to expand our business coverage in the Asian region. This will definitely open up a more diverse client base for First Metro, both here and abroad,” Dispo said.
The memorandum of understanding covers “collaborative and mutual” partnership that includes exchange of products, information and services between the two companies.
Japan-based Tokai Tokyo is one of the top holding companies in Japan, engaged in sales and purchases of securities, brokerage, public and private offering, as well as fund managing services in Asia and Europe.
“[We] will aim to meet the growing needs of its valued clients through business cooperation with one of the largest financial institutions in the Philippines, as it recognizes great economic potential in the future of the Asean region where robust growth is expected. [We] will strengthen its provision of brokerage services of Philippine equities and relevant investment information for the purpose of helping its clients’ investment activities,” Tokai Tokyo said in a disclosure.
Other than Asia, FMIC and Tokai Tokyo are searching for other areas to partner with to provide clients “access of a broader range of financial products and services.”
Tokai Tokyo is the first Japanese company in partnership with Metrobank Group of companies aside from the earlier pact with Singapore brokerage firm DBSVickers Securities Pte. Ltd. KRISTYN NIKA M. LAZO