İşbank and Bank of Tokyo to join forces

ISTANBUL- Hürriyet Daily News

İşbank and Bank of Tokyo Mitsubishi UFJ will provide leasing and retail services to Japanese corporate clients conducting business in Turkey. Hürriyet photo

Turkey’s İşbank and Bank of Tokyo-Mitsubishi UFJ have decided to partner to provide services to Japanese companies doing business in Turkey, according to Japanese daily Nikkei.

The sides may even reach an agreement at the International Monetary Fund (IMF) – World Bank meetings in Tokyo, where upper level managers from İşbank are currently present, according to the source.

İşbank is expected to provide Bank of Tokyo-Mitsubishi UFJ corporate clients in Turkey with leasing and retail banking services, as well as loan and credit card services. The two banks could also consider mergers and acquisition mediation services both in Turkey and in neighboring countries, according to Nikkei.

Meanwhile, Türkiye Kalkınma Bankası (TKB) has also signed a Memorandum of Understanding (MoU) with Japan Bank for International Cooperation (JBIC) to provide financing for energy investments in the fields of renewable energy and energy efficiency.