Public Bank inks MoU to strengthen collaboration with Japan’s Resona Bank

Public Bank inks MoU to strengthen collaboration with Japan’s Resona Bank
Business & Markets 2013
Written by theedgemalaysia.com
Monday, 20 May 2013 12:27


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KUALA LUMPUR (May 20): PUBLIC BANK BHD [] has inked a memorandum of understanding with Resona Bank of Japan to strengthen the business collaboration between the two banks in various strategic areas of cooperation on the basis of equality and mutual benefit.

In a joint statement Monday, the two banks said primary objective of the business collaboration was to leverage upon their respective strengths.

They said the collaboration would enable the two banks as well as their respective affiliates to establish and promote to their respective customers appropriate banking products and services in Malaysia and Japan, particularly cross border banking transactions and services, which include amongst others, cross border trade settlements, remittance clearance services, credit verification and referrals.

They said the business relationship between Public Bank and Resona Bank (established through merger of former Asahi Bank and Daiwa Bank) while had already commenced since 1967, this MOU further strengthens the business collaboration between both Public Bank and Resona Bank.

Resona Bank, is a wholly-owned subsidiary of Resona Holdings, the fourth-largest banking group in Japan and has strong business presence in the greater Tokyo metropolitan area and the Kansai region.

“The number of Japanese corporations commencing operations in the ASEAN countries is increasing.

“The business collaboration between the two banks will strengthen the banking services support to the customers of Resona Bank, particularly in the markets where Public Bank has strong network presence namely Malaysia, Cambodia, Vietnam and Laos,” they said.