Japan's Shinkin Central Bank sets up 1st Asia subsidiary in Singapore

Economy

Shinkin Central Bank, the central institution for credit associations in Japan, has decided to set up a wholly owned subsidiary in Singapore this month, its first local arm in Asia. Shinkin Singapore Pte. Ltd. will have U.S. dollar-based capital equivalent to 1 billion yen and is scheduled to start operation in July to cater to a growing number of Japanese small and medium-sized businesses in Southeast Asia, Shinkin Central Bank said last Thursday in a press release. The new company will engage in lending to overseas outlets of clients of "shinkin" credit union banks and help them expand their...

Kyodo News

Kyodo News