Sy-led BDO Unibank Inc. (BDO) and Japan’s Ashikaga Bank, Ltd. (ABL) signed a business alliance agreement to support Japanese companies looking to establish or expand their presence in the Philippines.
In a statement on Wednesday, Jan. 22, BDO said it recently signed a memorandum of understanding with ABL to strengthen the relationship between the two banks further.
BDO provides banking support services to Japanese business entities that are ABL customers and have existing operations or plans to build or expand their business in the country.
ABL is a leading regional bank based in Tochigi Prefecture, with 134 branches, including satellite offices and commercial banking services. It is the 17th Japanese bank to partner with BDO.
Incorporated in 1895, ABL has over 70,000 corporate clients and expects to grow its roster of customers in the Philippines with new investments and business matching deals.
BDO is the country’s largest bank in terms of total assets, loans, deposits, and trust funds under management.
The bank has the country’s most extensive distribution network, with over 1,700 consolidated operating branches and more than 5,700 ATMs nationwide. It also has 16 international offices in Asia, Europe, North America, and the Middle East.