BPI renews alliance with Mizuho Bank

The Bank of the Philippine Islands (BPI) has renewed its alliance with Japan's Mizuho Bank Ltd., expanding and strengthening the scope of business cooperation between the two banks.

- LAWRENCE AGCAOILI

BPI president and CEO Jose Teodoro Limcaoco said the renewed agreement between BPI and Mizuho reflects the resilience and growth of the relationship over the years.

"We are fortunate that this memorandum of understanding goes beyond the fundamentals by addressing the expansion of Japanese businesses through mergers and acquisitions, asset management, human resources, and ESG in its broader scope of operation," Limcaoco said." In 2012, BPI and Mizuho Bank entered into an agreement to offer financial services to Japanese companies considering entry to the Philippines.

The partnership focuses on local currency services, introduction of local and sales partners, mutual efforts in developing credit markets, and information exchange on local financial markets and regulations.