Philippines’ Banco de Oro in alliance with seven Japanese banks

To support Japanese SMEs investing in the Philippines.

The Philippines’ largest lender, Banco de Oro Unibank, has teamed up with seven Japanese regional banks to capitalize on a growing interest in the Philippines among Japanese investors. The Philippines was Asia’s fastest growing economy in the first quarter when it posted 7.8% in GDP growth.

The Japanese regional banks partnering BDO are Awa Bank, Ltd., Chiba Kogyo Bank, Ltd., Daisan Bank, Ltd., Hokuto Bank, Ltd., Joyo Bank, Ltd., Jurok Bank, Ltd. and Shonai Bank, Ltd.

BDO said the move was intended to support Japanese mid-tier companies and SMEs interested in operating in the Philippines.

The seven Japanese regional banks will serve as conduits for SME clients that require banking support when they decide to set up shop in the Philippines.