MANILA, PHILIPPINES – Metropolitan Bank & Trust Company (Metrobank) recently signed an agreement with one of Japan’s leading financial conglomerates, The Bank of Yokohama (BOY), in a bid to better service Japanese companies operating in the Philippines.
The deal gives the latter more flexibility in serving their clients’ needs from opening accounts to payment settlements.
Metrobank has established strategic partnerships with over 60 Japanese regional banks to strengthen its position in the local SME and institutional banking segments.
BOY is the 18th bi-lateral Memorandum of Understanding (MOU) or direct tie-up established by Metrobank with a Japan-based financial institution.
Under the Japan Bank for International Cooperation (JBIC) program, Metrobank has 45 other partnerships with Japanese regional banks.
Such a partnership will help BOY respond to the wide-ranging needs of their clients and further reinforce their capability to support customers in Asia.
As of March 31, 2015, BOY has 15,204.3 billion Yen in total assets, 204 domestic branches, one overseas branch, and 4 representative offices.
The Ty-led universal bank on the other hand, has a consolidated network of 920 domestic branches and an overseas network of 32 branches, two of which are located in Japan.
It also has a dedicated Japan desk within their Corporate Banking Group. – BusinessNewsAsia.com