BDO, Shizuoka Bank expand tie-up to boost service to Japanese companies

BDO UNIBANK, Inc. has expanded its partnership with Shizuoka Bank Ltd. to boost trade and investment with Japanese companies in the country.

“The expanded partnership with Shizuoka Bank enables companies to connect with the right partners, streamline financial transactions and navigate regulatory landscapes,” it said in a statement on Thursday.

“This demonstrates BDO’s commitment to accelerate trade and investments and strengthen vital industries contributing to the nation’s economic development,” it added.

The parties signed a memorandum of understanding to enhance the business alliance and support Japanese firms in the Philippines.

Under the expanded partnership, Shizuoka Bank expects a bigger client base in the Philippines through additional investments and business matching initiatives.

“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,” BDO said.

Shizuoka Bank has 177 branches and 26 subbranches in the Shizuoka Prefecture, as well as in Japan’s three major economic hubs — Tokyo, Osaka and Nagoya.

The lenders partnered in 2016 to provide financial solutions to Japanese customers.

BDO’s attributable net income climbed 11.73% to P82.02 billion last year on the back of the solid performance of its core businesses.

Its shares went up P2.10 to close at P150.50 each. — Aaron Michael C. Sy