Fukuoka Bank seals partnership with BDO
The third-largest regional bank of Japan, Bank of Fukuoka, Ltd. (BoF) has sealed a memorandum of understanding (MOU) with BDO Unibank as its partner-bank should they decide to expand their business or set up shops in the Philippines. Founded in 1942, BoF has 170 branches and representative offices in Dalian, Shanghai, Hong Kong, Taipei, Bangkok, Singapore, Ho Chi Minh City, and New York City.
The partnership is a milestone for BDO as no Japanese Regional Bank (JRB) in the Kyushu region has aligned with any Philippine bank in the past. Since 2013, BDO has sealed agreements with several JRBs strategically situated in the various prefectures of the world’s third-largest economy. These JRBs are serving as conduits of their clients which are currently doing business in the Philippines or eyeing the country as their next business hub.
Said undertakings were considered a byproduct of the previous MoU entered into by BDO with the Japan Bank for International Cooperation (JBIC) essentially promoting the development and strengthening of a framework to support Japanese mid-tier companies as well as SMEs through JRBs.
This is a press release. Minor edits were made prior to publishing.
