CTBC, Miyazaki Bank forge agreement

CTBC continues expansion into Japan.

Taiwan’s CTBC Financial Holding Company and Japan's Miyazaki Bank have signed a memorandum of understanding on business exchanges.

CTBC Financial said that under the MOU, its flagship CTBC Bank and Miyazaki Bank are expected to work together to enhance corporate banking and provide clients with financial advice for business mergers and acquisitions.

CTBC Bank is likely to broaden its services by providing an alternative funding channel to its corporate clients through the partnership.

CTBC Financial was formerly known as Chinatrust Financial Holding Co., while CTBC Bank used to be known as Chinatrust Commercial Bank.

Miyazaki Bank is the fourth Japanese bank so far this year to have signed a cooperation agreement with CTBC Financial. The Taiwanese financial company signed similar agreements with Shizuoka Bank, Singinko Tokyo and Bank of Kyoto.

Miyazaki Bank was established in 1932 and now serves as one of the biggest financial institutions in southern Japan. The bank has 96 outlets in Japan.

CTBC Financial said its partnership with its Japanese counterparts is expected to help provide business opportunities in Japan.