Regional Banks Support Japanese Firms in Asia

Regional banks are expanding into Asia to open new operating bases and form alliances with local financial institutions. They hope to support Japanese companies from their home regions that are pursuing operations overseas, according to Nikkei. For example, the Bank of Nagoya will set up a branch in the Chinese city of Nantong as early as next year. The Bank of Yokohama established a branch in Shanghai last year. Hokuriku Financial Group Inc. allied itself with a major Vietnamese bank at the end of last year. Hiroshima Bank linked an agreement for a business partnership with Metropolitan Bank and Trust Co., the largest bank in the Philippines.