Largest Japanese bank positive on Philippine prospects
The Bank of Tokyo-Mitsubishi UFJ. (BTMU) Ltd., member of the Mitsubishi UFJ Financial Group (MUFG), the largest bank in Japan, is positive on launching Philippine based projects.
Takayoshi Futae BTMU Managing Executive Officer and Chief Executive Officer for Asia & Oceania in association with the Security Bank Corp. said that they are confident in financing projects in the power and transport sector.
BTMU Manila branch has established its 60 years presence as a representative bank in the Philippines since 1953. While Security Bank remains as one of the top five private domestic universal banks with an estimate P680 billion worth of total assets as of the end of September (2016?).
The Philippines is considered as the foremost market for MUFG in the Asia Pacific region despite what other nations consider as the country’s brazen economic growth.
“I am very bullish and happy with the alliance with Security Bank. The most important market is the Philippines, I firmly believe in the country’s potential,”
1 trillion Yen (433 billion Pesos) as aide package for the next five years, was offered to the Philippines last month, during the visit of Japan Prime Minister Shinzo Abe. The said offer was for economic and infrastructure development.
MUFG will set business sessions between Philippine and Japanese companies this month, as a follow up to the seminars conducted in Japan during December of last year.
Futae said that with the Philippine economic growth, the Japanese bank is committed to support the ongoing development of the Philippines.