ID :
373552
Mon, 07/06/2015 - 12:14
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Public Bank Collaborates With Japanese Banks

KUALA LUMPUR, July 6 (Bernama) -- Public Bank Bhd has signed a memorandum of understanding (MOU) with Japan's Saitama Resona Bank and Kinki Osaka Bank to to promote and strengthen cooperation between the respective banks. The MOU would also facilitate the joint development of business opportunities on the basis of equality and mutual benefit, the Kuala Lumpur-based bank said in a statement. Saitama Resona Bank and Kinki Osaka Bank are wholly-owned subsidiaries of Resona Holdings which also owns Resona Bank, the fourth largest banking group in Japan with a strong business presence in Tokyo and the Kansai region. The business collaboration with Saitama Resona Bank and Kinki Osaka Bank would further benefit Public Bank's customers. Public Bank said the collaboration would also strengthen the banking services support to the customers of Saitama Resona Bank and Kinki Osaka Bank, particularly in the markets where Public Bank had strong network presence namely Malaysia, Cambodia, Vietnam, Laos, Hong Kong and Sri Lanka. Public Bank and Resona Bank, another bank under Resona Holdings, had earlier established similar business collaboration through an MOU signed in 2013. Saitama Resona Bank has a strong regional bank franchise with 127 branches, 126 of them in Saitama Prefecture with a population of over 7.2 million. Meanwhile, Kinki Osaka Bank is a top regional bank with 122 branches in Osaka Prefecture. The bank is engaged in retail banking activities, focusing not only on SME segments but individual segments like residential mortgages and investment trust fund. -- BERNAMA

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