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.