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BOT-Mizuho Bank cooperation to create huge business opportunities

BOT-Mizuho Bank cooperation to create huge business opportunities

Tokyo, Oct. 20 (CNA) The chairwoman of the Bank of Taiwan (BOT), Lee Jih-chu (???), said Tuesday that a cooperative agreement between her bank and Mizuho Bank of Japan will create great potential business opportunities for the two banking institutions. Lee made the prediction after inking a memorandum of understanding (MOU) on cooperation between the two banks with Nobuhide Hayashi, president and CEO of Mizuho Bank, Japan's third-largest bank. Based on their long-lasting cooperation, the BOT and Mizuho Bank face similar challenges, while sharing a common view on future development opportunities, Lee said, adding that they are expecting to promote their overseas markets, particularly in Asia, while facing low interest rates and relatively slow growth in their domestic markets. In addition, both the BOT and Mizuho Bank also face a series of social problems deriving from an aging society and challenges from financial technology, while both have similar visions regarding the growing Asian market, the opening of mainland China and huge business opportunities created by the Chinese yuan, the Taiwanese banker said. Lee said that she and her Japanese counterpart have achieved consensus on cooperation in several fields, including the promotion of financial products for aged citizens, the application of financial technologies and the exchange of experience with regard to services for small- and medium-sized enterprises. Responding to media questions after the signing ceremony, Hayashi said that for his bank, Taiwan is an attractive market because despite having a small population, it maintains close relations with China, which will allow Mizuho Bank to make inroads into the Chinese market. (By Yang Ming-chu and Romulo Huang)


Updated : 2021-09-17 10:10 GMT+08:00