PSBank allowed to team up with Japan's Sumitomo

PSBank has been granted approval by the Philippine's central bank to invest up to 40 percent or approximately $38 billion in a joint venture with Sumitomo Corp.

Philippine Savings Bank (PSBank), the Metrobank group’s thrift banking unit, announced that it secured government approval to invest in a joint venture with a Japanese conglomerate, according to a report by GMA News.

BSP also allowed PSBank to increase its investments in the joint venture without prior approval from the banking regulator as long as the lender submits pertinent documents regarding the investee company.

Earlier, PSBank disclosed that it tapped Sumitomo as its strategic partner in providing leasing and financing for motorcycles in the country.

The joint venture company will offer financing for all motorcycle brands through its Metro Manila branches.

Also Read

OCBC Ignite aims to double poly graduate intake

Singapore’s big banks aim for 96% emissions cut by 2050

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia