Security Bank, MUFG kick off business-matching program
SECURITY Bank Corp., and Japan’s Mitsubishi UFJ Financial Group (MUFG), expect to generate more cross-border collaboration between Filipino and Japanese businessmen via their jointly-organized Business Matching Fair yesterday.
The banks’ joint business matching event — the first in Manila — has resulted in 200 arranged meetings between 87 large and medium companies from among the banks’ clients.
Security Bank’s President and Chief Executive Officer Alfonso L. Salcedo, Jr. said that the business matching event is intended to achieve Security Bank’s goal to provide its clients access to a global network, as the bank’s recently- signed tieup with the Japanese lender provides a platform to seek potential business partnerships across Asia.
“Our combined strengths now serve as an avenue for Japanese and Filipino businessmen to meet and discuss how to further develop opportunities that will help our economies,” said Mr. Salcedo in a roundtable discussion with members of the media.
Business matching introduces a bank’s domestic corporate clients to foreign companies. Since 2013 MUFG has organized 15 such events in Asian.
Bank of Tokyo-Mitsubishi UFJ Financial Group (BTMU) — the core banking unit of MUFG — recently acquired 20% of Security Bank, paving the way for the business-matching event.
Although the banks do not expect deals and projects to be signed immediately, they said that it would forge new partnerships in the long run, as both sets of bank clients can have access to potential investors at any time without having to organize another busines smatc hing eve nt.
“[Our] objective… moving forward, as the awareness of this type of event spreads particularly among our client base, what they can expect from us is if they are interested in either doing business in Japan, or they’re looking for Japanese partners to sell, they can come to us and we can coordinate with MUFG,” said Mr. Salcedo.
“We don’t need to wait for the next business matching. This is like a kickoff to a better banking offering which no other bank offers. It’s really access to both markets and corporates,” he added.
Meanwhile, MUFG’s Manila Branch General Manager Tadahiro Miyamoto said: “I’m sure that we can have more collaboration to serve our customers and for the development and future growth of the country.”
According to Mr. Miyamoto, a lot of MUFG’s clients in Japan expressed interest in the Philippine market, considering its high levels of economic growth, and a growing consumer base.
“With the growth of the economy of the Philippines, together with the numbers of the middle class, domestic demand is really gaining momentum, and lot of Japanese corporations are looking at this market.
He added that access to investors will contribute to the country’s infrastructure buildup, noting Japan’s strengths in infrastructure and technology.
Mr. Salcedo added that the fortified Philippine-Japanese relations provides a good business environment for investors.
“Japan-Philippine ties are on its apex, and “I don’t recall a time better than this,” said Mr. Salcedo.
Moreover, Mr. Salcedo assures that the business matching process would involve “high-quality” businessmen, as Security Bank and MUFG’s network of investors would be vetted prior to the meeting.
“We will not introduce client without top quality. They’re financially sound. When that has been communicated on both sides, both are comfortable with each other, they know that they’re talking to somebody who’s real, same ethics and integrity. That value added is priceless,” he added. —