MANILA, Philippines - Metropolitan Bank & Trust Co. (Metrobank) has forged new business alliances with several Japanese financial institutions in support of expansion plans of Japanese SMEs (small and medium enterprises) into the Philippines.
The Japan-based financial institutions are Hyakugo Bank Ltd., Ogaki Kyoritsu Bank Ltd., The 77 Bank, Okazaki Shinkin Bank, Akita Bank, Iyo Bank, Chugoku Bank, and Hyakujushi Bank.
Metrobank Tokyo general manager and country manager Kenichi Katakura said the business alliance between Metrobank and the Japanese banks aims to support the Japanese SME clients in their future operations in the Philippines.
“With this partnership, Japanese enterprises will have access to financing and will enable them to open accounts in the local currency,†Katakura said in a press statement.
Moreover, Metrobank, as a leading financial expert in the Philippines, will provide financial advisory services to further guide the Japanese SMEs in their expansion.
It has a strong Japanese linkage through its Metrobank Tokyo branch as well as a dedicated Japan desk within its Corporate Banking Group that specializes in handling the needs and addressing the concerns of Japanese businesses operating in the Philippines.
Earlier this year, the bank strengthened its relations with the Japanese market as it forged partnerships with two business support organizations – Japan Bank for International Cooperation (JBIC) and the Japan Finance Corporate (JFC).
These organizations are established to provide support for Japanese enterprises that want to expand their operations to other countries such as the Philippines.
“As Japanese companies shift operations to rapidly growing Asian economies like the Philippines, we need to provide the support necessary for these enterprises to expand outside their home country. We at Metrobank are committed to providing support to these Japanese businesses which will give mutual benefits to both our countries,†Anthony Ocampo, Metrobank senior vice president for corporate banking, said.