Philippines’ RCBC partners with Japan’s Resona Group

Will focus on Japanese small and medium enterprises.

Rizal Commercial Banking Corporation is expanding its business with Japanese SMEs with a partnership with two banking units of Japan's Resona Holdings, Inc.

RCBC recently signed business cooperation agreements with Saitama Resona Bank Ltd. and The Kinki Osaka Bank Ltd. Saitama Resona Bank has dominant shares in Saitama Prefecture while The Kinki Osaka Bank has 128 manned branches, mostly in the Kinki region.

RCBC said the agreement will provide financial services such as loans, and opening of accounts and advisory services in Japanese for Japanese businesses in the Philippines.

RCBC sees the Philippines as the perfect venue for potentially greater investments by Japanese companies given its stable economy, strong domestic consumption as well as a more cost effective English-speaking labor force.

RCBC’s is the fifth largest bank in the Philippines. It has a total of 424 branches and 1,107 ATMs.