First Metro Investments Corp. (FMIC), the investment banking arm of the Metrobank Group, has signed a cooperation deal with Japanese financial institution Sumitomo Mitsui Banking Corp. (SMBC) and its other units.
In a statement, FMIC said that it signed a memorandum of intent (MOI) with SMBC, SMBC Nikko Securities Inc. and SMBC Nikko Securities (Hong Kong) Ltd. to explore “further opportunities in the Asian region.”
FMIC said the key areas of collaboration between the two parties focus on the debt capital markets and debt-related transactions.
Noburu Kato, SMBC director, general manager and head of Investment Banking Department in the Asian region said: “The signing of this cooperation agreement between First Metro and the SMBC Group comes at the right time. With its robust economy and fast-moving market, the Philippines is ready to participate and compete in the international stage.”
“This agreement will allow businesses and investors from either the Philippines or Japan to take part in the debt issuances of clients of First Metro and the SMBC Group. This MOI will definitely be a basis of the many business opportunities in the coming years,” Kato added.
FMIC President Roberto Juanchito Dispo, in turn, said that the deal with the Japanese financial institution will benefit both parties to extend their reach in the Asian region in banking, finance, investment banking and related industries.
“We are honored and excited to work with the largest investment bank in the Philippines, First Metro, so that the business opportunities may materialize as soon as possible,” SMBC Nikko Securities executive officer and head of international business Takahiro Yazawa said.
Established more than 50 years ago, FMIC is involved in investment banking, servicing the Philippine capital markets.