BDO teams up with Japan’s Joyo Bank

Banking giant BDO Unibank has teamed up with Joyo Bank Ltd. of Japan to help Japanese small and medium enterprises (SME) gain a foothold in the Philippine market.

Under the memorandum of agreement signed by the two banks, BDO will provide assistance—in the form of financial or non-financial advisory services—to Joyo Bank’s SME clients.

The agreement is an offshoot of the 2013 memorandum of understanding between BDO and the Japan Bank for International Cooperation (JBIC) which seeks to promote the development and strengthening of a framework to support Japanese mid-tier companies as well as SMEs through Japanese regional banks (JRB).

These JRBs, strategically situated in the various prefectures of Japan, will be the conduits for their SME clients that require banking support in setting up shop in the Philippines.

Joyo Bank is a 79-year-old bank and a leading financial institution in the Ibaraki Prefecture and surrounding regions.  Doris C. Dumlao