THE COUNTRY’S leading lender Banco de Oro Unibank Inc. seeks to capture more business from Japanese enterprises through a deeper partnership with FIDEA Group, a holding firm for major Japanese banks.
In a press statement on Wednesday, BDO announced that it had signed a memorandum of understanding with FIDEA Holdings Co. Ltd. that will allow the local lender to provide support to FIDEA’s Japanese clients which are planning to invest in the Philippines.
FIDEA is a joint holding company between major Japanese regional banks The Shonai Bank, Ltd. (Yamagata prefecture) and The Hokuto Bank, Ltd. (Akita prefecture). Both banks have partnered with BDO Unibank under the Japan Bank for International Coop. (JBIC) framework in 2013, which was developed to support the banking needs of Japanese enterprises looking at the country as a business destination.
“The partnership with the FIDEA Group will provide BDO Unibank adequate coverage in Japan’s northern region (Tohoku), specifically in Akita, Yamagata and Miyagi prefectures where majority of the primary industries (agriculture, fishing, forestry, mining) are located,” BDO said.
“As a leading player in the local banking sector, BDO Unibank can provide the Japanese clients financial and non-financial advisory services, and other products and services that would be helpful to them should they decide to set up shop in the Philippines,” it added.
Since 2007, BDO has established a fully-staffed Japan desk run by Japanese-speaking personnel, dedicated to market and service Japanese companies operating in the Philippines, and service the retail needs of Japanese customers.