BDO partners with Japan’s Ashikaga Bank

MANILA, Philippines — Sy-led BDO Unibank Inc. has partnered with Japan’s Ashikaga Bank, Ltd. (ABL) to provide essential support to Japanese businesses looking to establish or expand their presence in the Philippines.

In a statement yesterday, the country’s largest lender said it signed a business alliance agreement through a memorandum of understanding (MOU) to foster a partnership that enables Japanese companies to thrive in the country’s diverse markets.

ABL is a leading regional bank based in Tochigi Prefecture. It is the 17th Japanese bank that has partnered with BDO.

“With 134 branches including satellite offices and commercial banking services, ABL has been keeping the major market share in the region,” BDO said.

The bank highlighted that the MOU signed on Dec. 23, 2024 aims to further strengthen the relationship between these two banks as BDO provides banking support services to Japanese business entities who are ABL customers and have existing operations or plan to build or expand their business in the country.

Incorporated in 1895 with over 70,000 corporate clients, ABL expects to grow its roster of customers in the Philippines with new investments and business matching deals.

“As the only bank in the country with comprehensive international desks, BDO offers a multicultural team of relationship managers and advisors who possess extensive international and local banking experience,” the bank said.

BDO has grown its Japan Desk since its establishment in 2007. It features Japanese-speaking personnel dedicated to market and service Japanese companies operating in the Philippines, and service the retail needs of Japanese customers.