BDO partners with Japanese banks

Sy-led BDO Unibank, Inc. (BDO) has partnered with Japan Regional Banks (JRBs) to support Japanese mid-tier companies and small and medium enterprises (SMEs) interested in operating in the Philippines.

In a statement Tuesday, BDO said these were prompted by the memorandum of understanding (MoU) signed last March with the Japan Bank for International Cooperation (JBIC).

The bank said the MoU is aimed at promoting the development and strengthening of a framework to support Japanese mid-tier companies and SMEs through Japanese regional financial institutions.

The JRBs, strategically situated in various prefectures of the world’s third largest economy, will serve as conduits for their SME clients that will be requiring banking support when they decide to set up shop in the country.

They 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.

BDO, on its part, can provide the Japanese SMEs with financial and non-financial advisory services, and other products that can aid them in their expansion.

BDO also said it continues to collaborate closely with JBIC to explore more tie-ups and potentially assist the Japanese SMEs to establish operations throughout the Philippines, including the special economic zones.