BDO Unibank Inc. (BDO) and Shizuoka Bank Ltd. have signed a comprehensive memorandum of understanding (MOU) to enhance their business alliance and support Japanese firms in the Philippines.
The partnership aims to expand opportunities for Japanese companies in the country, driven by the projected growth of the Philippine economy.
Shizuoka Bank, a leading regional bank based in Shizuoka Prefecture, operates 177 branches and 26 sub-branches, with a network extending to Tokyo, Osaka, and Nagoya.
Since 2016, BDO has worked closely with Shizuoka Bank, providing strategic financial solutions and helping Japanese customers succeed.
Under the expanded business alliance, Shizuoka Bank anticipates increasing its client base in the Philippines through additional investments and business matching initiatives4.
Minoru Yagi, President of Shizuoka Bank, expressed optimism about the partnership, stating, “We are excited to strengthen our collaboration with BDO and support Japanese businesses in the Philippines”.
Nestor V. Tan, President and CEO of BDO, highlighted the benefits of the partnership, saying, “This alliance will enable companies to connect with the right partners, streamline financial transactions, and navigate regulatory landscapes.”
With Japan increasing its demand for skilled Filipino workers, BDO and Shizuoka Bank will provide the needed support to Overseas Filipino Workers, including technical intern trainees, specified skilled workers, and professionals employed in Japan.
The expanded partnership demonstrates BDO’s commitment to accelerating trade and investments and strengthening vital industries contributing to the nation’s economic development6.
BDO Unibank Inc. is a full-service universal bank offering a wide range of corporate and retail services, with the largest distribution network in the Philippines8
Shizuoka Bank’s extensive network and expertise in Japan’s major economic hubs will play a crucial role in supporting Japanese firms in the Philippines.
The partnership between BDO and Shizuoka Bank is expected to drive national progress and foster economic growth in the Philippines.
