Japan’s Ogaki Kyoritsu opens Manila rep office

MANILA, Philippines - Ogaki Kyoritsu Bank Ltd. (OKB) of Japan has established its presence in the Philippines after receiving the green light from the Bangko Sentral ng Pilipinas (BSP) to open a representative office.

BSP Deputy Governor Nestor Espenilla Jr. issued Circular Letter 2017-036 informing BSP-supervised financial institutions the Ogaki Kyoritsu Bank Ltd. Manila Representative Office, opened late last month.

The Japanese bank could promote and provide information about its services or products through the liaison office in Manila.

The BSP’s Monetary Board gave OKB the green light to put up the representative office last Jan. 26 and was registered with the Securities and Exchange Commission (SEC) last March 27.

The BSP issued the Certificate of Authority to Operate as a representative office last April 18, allowing the Japanese bank to start operations last May 26.

Aside from Manila, OKB also has representative offices in Shanghai, Bangkok, and Ho Chi Minh. It has 155 branches in Japan.

The company was founded in 1896 and is headquartered in Ogaki, Japan. It is a regional financial institution providing banking and financial services in Japan and internationally.

Aside from OKB, there are nine foreign representative offices operating in the Philippines including Wells Fargo Bank, Korea Development Bank, Bank of Singapore Ltd., DBS Bank Ltd, Japan Bank for International Cooperation, Rothschild (Singapore) ltd., The Bank of New York Mellon, Korea Eximbank, and UBS AG.