BDO signs business alliance deal with Japanese lender
BDO UNIBANK, Inc. (BDO) has inked an agreement with The Hyakujushi Bank, Ltd. (HBL) to provide banking support services to clients of the foreign lender that plan to establish or expand their businesses in the Philippines.
BDO signed a business alliance agreement via a memorandum of understanding with The Hyakujushi Bank with April 3 as its execution date, it said in a disclosure to the local bourse on Monday.
It said the agreement “aims to further strengthen the relationship between these two banks as BDO provides banking support services to Japanese business entities who are HBL customers and have existing operations or plan to build or expand their businesses in the country.”
“HBL expects to grow its roster of customers in the Philippines with new investments and business matching deals,” BDO said.
The Hyakujushi Bank, which is a regional bank based in Kagawa Prefecture, is the 16th Japanese bank that has partnered with BDO so far for the past 10 years.
The Japanese lender has 132 branches including satellite offices and commercial banking services. It has 60,000 corporate clients that are mostly located in industrial zones.
BDO booked an attributable net income of P57.054 billion in 2022, 33.33% higher year-on-year, amid strong results across all its core businesses.
Its shares declined by 30 centavos or 0.23% to close at P128.20 apiece on Monday. — AMCS
