Banking News

Japanese SMEs lured to Philippines

Japanese SMEs lured to Philippines

(8 August 2013 – The Philippines)  In order to support mid-tier Japanese companies and SMEs investing in the Philippines, Banco de Oro has arranged alliances with seven Japanese banks.

The Philippines’ largest lender, Banco de Oro Unibank (BDO), has teamed up with the seven Japanese regional banks to capitalise on a growing interest among Japanese investors.

The Philippines was Asia’s fastest growing economy in the first quarter when it posted 7.8 percent in GDP growth.

The Japanese regional banks partnering BDO are Awa Bank, Ltd., Chiba Kogyo Bank, Ltd., Daisan Bank, Ltd., Hokuto Bank, Ltd., Joyo Bank, Ltd., Jurok Bank, Ltd. and Shonai Bank, Ltd.

BDO said the move was intended to support Japanese mid-tier companies and SMEs interested in operating in the Philippines.

The seven Japanese regional banks will serve as conduits for SME clients that require banking support when they decide to set up shop in the Philippines.

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