Japanese financial services firm the Bank of Yokohama (BOY) has signed an agreement with Philippines-based Metropolitan Bank & Trust (Metrobank) to facilitate banking services for Japanese companies operating in the Philippines.

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The deal will enable BOY to respond to the needs of its clients ranging from opening accounts to payment settlements.

Metrobank said that it has established strategic partnerships with more than 60 Japanese regional banks to strengthen its position in the local SME and institutional banking segments.

Under the Japan Bank for International Cooperation (JBIC) program, Metrobank has 45 other partnerships with Japanese regional banks with BOY being the 18th bi-lateral memorandum of understanding (MoU) or direct tie-up established by Metrobank with a Japan-based financial institution.

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