BDO strengthens partnership with Japan’s Shizuoka Bank

MANILA, Philippines — BDO Unibank Inc. has expanded its partnership with Japan’s Shizuoka Bank Ltd. to boost trade and investment opportunities between the Philippines and Japan.

In a statement, BDO said it signed a comprehensive memorandum of understanding to enhance the business alliance and support Japanese firms in the Philippines’ competitively diverse markets.

“The expanded partnership with Shizuoka Bank enables companies to connect with the right partners, streamline financial transactions and navigate regulatory landscapes,” BDO said.

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

Shizuoka Bank is a leading regional bank based in Shizuoka Prefecture that operates 177 branches and 26 sub-branches. Its network extends beyond Shizuoka Prefecture and has branches in Japan’s three major economic hubs, Tokyo, Osaka and Nagoya.

BDO has been working closely with the Japanese bank since 2016, providing strategic financial solutions and helping Japanese customers succeed.

Under the expanded business alliance, Shizuoka Bank anticipates increasing its 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.

Last month, the Sy-led bank announced that it has also 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.

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

The Japanese bank has 143 branches including satellite offices and commercial banking services.

BDO said the partnership with ABL 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 Philippines.