Japanese bank announces deal with Ayeyarwady Bank

Japan’s Juroku Bank has announced a deal with Burma’s Ayeyarwady Bank, according to a report in the Japan Times on Thursday.

The move marks “the first such arrangement between a Japanese regional lender and a Myanmar financial institution to help Japanese companies set up in the country,” the report said.

Under the agreement, Juroku Bank, which was founded in 1877, will provide its client companies with information about the business environment and the legal system in Burma, the Japan Times reported.

On a consolidated basis, as of the end of March 2012,

Juroku Bank announced it had total deposits of ¥4,881 billion (US $59,387 million), and total assets of ¥5,488 billion (US $66,773 million).

Ayeyarwady Bank, which was founded in August 2010, has capital equivalent to about ¥24.2 billion and has 28 offices.

source: Mizzima
http://www.mizzima.com/business/8469-japanese-bank-announces-deal-with-ayeyarwady-bank.html