Quantcast
Latest Stories

Metrobank, JBIC team up to boost Japanese businesses in PH



MANILA, Philippines–Metropolitan Bank and Trust Co. has teamed up with the state-owned Japan Bank for International Cooperation to boost Japanese small and medium enterprises that are entering or expanding in the Philippine market.

In a press statement on Wednesday, Metrobank announced the signing of a memorandum of understanding with JBIC for the development and the strengthening of a framework to support Japanese mid-tier enterprises as well as small and medium enterprises through Japanese regional financial institutions.

Under the terms of the MOU, JBIC will conduct continuous consultations with Metrobank, primarily through its Japan desk, to support business expansion in the Philippines of SMEs with which Japanese regional financial institutions have business relations. JBIC will then work with Metrobank and financial institutions in Japan to provide financial and non-financial support to the latter’s clients as they enter or expand in the Philippine market.

“This MOU represents a clear commitment for Metrobank to explore cooperation with JBIC to fund and develop entrepreneurial ventures by Japanese firms in the Philippines. We believe that this collaboration will spur mutually beneficial trade and economic cooperation that will redound to job and wealth generation for thousands of Filipinos and sustainable growth for Japanese entrepreneurs,” said Vicente Cuna Jr., senior executive vice president and head of the institutional banking sector of Metrobank.

JBIC is a policy-based development financial institution wholly owned by the Japanese government. It was mandated by the Japanese government to work with the Regional Banks Association of Japan and Japanese SMEs and strengthen partnerships with foreign financial institutions while identifying the needs of SMEs for expanding overseas business operations, particularly in Asia.

Aside from its tie-up with Metrobank in the Philippines, JBIC has signed MOUs for similar arrangements in Thailand, Indonesia and India.

As of end-December, Metrobank had total assets of P1.04 trillion, with total loans extended reaching P509 billion.

Metrobank is the first Philippine bank to be granted a banking license by the Japanese Ministry of Finance, opening branches in Tokyo and Osaka in 1996 and 1998, respectively.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Doris C. Dumlao



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Man found dead in Quezon City, alleged victim of summary execution–report
  • Aquino to lead Air Force turnover rites
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • HK victims to get P115M; traders raised money
  • Marketplace