RHB Bank, Seto Shinkin Bank boost Japanese corporates in Thailand

MOU has been inked.

According to a release, RHB Bank Berhad’s Thailand office (RHB) and Seto Shinkin Bank (Seto Shinkin), today signed a Memorandum of Understanding (MoU) to enable both banks to collaborate to support Japanese corporates in Thailand through business referrals and exchange of information.

The MoU was inked by Mr. Thiti Musuwan, Country Head of RHB Bank Berhad, Thailand, and Mr. Yukio Kashima, the President of Seto Shinkin Bank. Through this strategic alliance, RHB will offer credit facilities in the local currency to customers of Seto Shinkin Bank from the SME’s and middle market companies in Thailand.

This collaboration would also enable these customers to gain advantage of RHB’s products and services. Dato’ Khairussaleh, the Managing Director of RHB Bank Berhad noted that the Japanese are the largest foreign investors in Thailand with a growing interest amongst SMEs.

He said that this development is meaningful for RHB as it shows a growing need for financing facilities in Thailand, hence the RHB Japanese Deskin Thailand will be tapping into this potential area for business growth.

RHB Bank Thailand, a fully licensed commercial bank, is a branch office of the RHB Bank. The branch office has a presence in Thailand for 50 years and offers a complete range of financialproducts and services through its Bangkok and Sriracha branches. The Japanese Desk set up in RHB Bank Thailand, will spearhead the objectives of this MoU.

The Seto Shinkin Bank, is a cooperative financial institution serving the needs of small and medium-sized enterprises and local residents in Japan, based in Seto City located in Aichi prefecture. Being the second largest bank in this district, it has a fund size of over 1.5 trillion yen (USD14,400,000,000). The Bank has a solid client base in Japan and overseas, mainly from the automobile industry suppliers and major Japanese car manufacturers.