Japanese commercial bank Aozora Bank, Ltd. has tapped BDO Unibank, Inc. (BDO) to collaborate on select banking services for its clients eyeing the Philippines as a potential investment spot.
The business collaboration will cover, among others, merger and acquisition advisory and investment banking services. This was formalized via a memorandum of understanding (MoU) signed by the banks Monday.
Aozora said it handpicked BDO given the bank’s strong foothold in the Philippine market. This strength would be helpful to Aozora’s clients who plan to invest and find potential business partners in the country.
For BDO’s part, senior vice president and head of international desks Edward G. Wenceslao said the tie-up with Aozora can give the bank broad coverage in the major prefectures with the most number of Japanese investments in the Philippines.
These prefectures are Tokyo, Kanagawa, Kyoto, Osaka, Hiroshima, and Fukuoka.
Founded in April 1957, Aozora has 20 branches across Japan and five overseas offices.
It occupies a unique position as neither a mega bank nor a regional financial institution, and is active in the provision of deposits, loans and debentures, loan syndication, securitization, business and asset revitalization.
In addition, Aozora provides advisory services to assist corporate, financial institution and retail clients.
Since 2013, BDO already entered into various MoUs with eight Japanese Regional Banks (JRBs) to provide financial services assistance to JRBs’ respective clients who want to do business in the Philippines.
BDO has an established, fully staffed Japan Desk, with Japanese-speaking personnel dedicated to market and service Japanese companies operating in the country, as well as service the retail requirements of Japanese customers.