February 15th 2013 - Mizuho Corporate Bank, Ltd. (MHCB; Yasuhiro Sato, President & CEO) and P.T. Bank Mizuho Indonesia signed a business cooperation agreement today with PT. Bank Negara Indonesia (Persero) Tbk. (BNI; CEO/President Director Mr. Gatot Mudiantoro Suwondo), a major state-owned bank in the Republic of Indonesia. The agreement covers a wide range of fields including commercial banking and investment banking.

The agreement aims to enhance our ability to provide information to Japanese corporations that are considering expanding their businesses into Indonesia, and enhance our service structure for them when they do. Specifically, we will (1) offer local currency services, (2) introduce local partners and local customers, (3) cooperate in relation to development of local bond markets, and (4) exchange information regarding local financial markets and regulations.

BNI was established as the first state commercial bank in 1946 and is currently the fourth-largest state-owned commercial bank in Indonesia in terms of total assets. It has a significant network of 1,555 offices*, and has operated an office in Tokyo since 1969. *as of December 31, 2012.

Indonesia has a population of 240 million people, which is the fourth-largest population in the world, and increasing numbers of Japanese corporations are expanding their businesses there on the back of strong domestic demand. MHCB and P.T. Bank Mizuho Indonesia will unite with other group companies including Mizuho Bank, Ltd. in using this business cooperation agreement as an opportunity to provide a wide range of support for the increasingly diverse needs of our customers.

Re-disseminated by The Asian Banker