2 Japan banks tie up with RCBC to assist small business

Kyodo News

Posted at May 16 2018 11:13 PM

Kansai Mirai Financial Group Inc. said Wednesday its two banking units have teamed up with a Philippine lender to help small and midsize Japanese firms advance into the Southeast Asian country.

Osaka-based Kansai Urban Banking Corp. and Kobe-based Minato Bank signed a business alliance agreement with Rizal Commercial Banking Corp., the financial group said.

The two regional banks and the Philippine bank aim to promote business tie-ups between their clients while cooperating in offering Philippine market and investment information and various support such as accounting and tax expertise.

"There are growing needs (for such services) as a number of clients have interest (in the Philippines)," said Kiyoshi Miura, deputy president of Kansai Urban Banking.

Rizal Commercial Banking, founded in 1960, has 508 branches across the country on a consolidated basis.