Giant bank strengthens ties with Japanese firms

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The country’s biggest lender, BDO Unibank, yesterday announced that it has signed a business alliance agreement with one of Japan’s leading regional banks.

Ashikaga Bank, Ltd. (ABL), based in Tochigi Prefecture, is the 17th Japanese bank which has partnered with BDO.

In a statement, BDO said the move will provide essential support to Japanese businesses looking to establish or expand their presence in the country. 

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“The agreement (will) enable Japanese companies to thrive in the Philippines’ diverse markets,” BDO said.

The agreement, which took effect late last month, aims to further strengthen the relationship between the banks as BDO provides banking support services to Japanese business entities who are ABL customers and have existing operations or plan to build or expand their business in the country.

ABL currently has 134 branches including satellite offices and commercial banking services and has been keeping the major market share in Japan.

Incorporated in 1895 with over 70,000 corporate clients, ABL expects to grow its roster of customers in the Philippines with new investments and business matching deals. 

BDO has the country’s largest distribution network with over 1,700 consolidated operating branches and more than 5,700 ATMs nationwide, and has 16 international offices in Asia, Europe, North America and the Middle East.

Led by the Sy family, BDO is currently the only bank in the Philippines with comprehensive international desks with a multicultural team of relationship managers and advisors who possess extensive international and local banking experience.

The bank opened its Japan Desk in 2007 with Japanese speaking personnel dedicated to market and service Japanese companies operating in the Philippines, and service the retail needs of Japanese customers.

For the past 10 years, BDO has sealed partnerships with several Japanese Regional Banks strategically situated in various prefectures of Japan, the world’s third largest economy.

The partnership with ABL came after BDO signed a similar agreement with the Hyakujushi Bank Ltd. (HBL), a leading regional bank based in Kagawa Prefecture.

BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of September 30, 2024.

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