The partnership aims to provide financial services to corporate customers in both countries.
Rizal Commercial Banking Corp. (RCBC) announced that they are partnering up with South Korea's Kookmin Bank to give financial assistance to Philippine and Korean firms.
The Philippine lender revealed that it has signed a “business cooperation agreement” with the Korean bank in early 2018 that aims to “provide high-quality financial services to corporate customers of both countries by adopting corporate customer tie-up program.”
Also read: South Korean banks to expand in ASEAN countries
The agreement includes “mutual cooperation for maintaining and increasing Korean corporate customer base,” “joint marketing for corporate customers of direct remittance service,” and “sharing know-how to improve service quality for corporate customers,” amongst others.
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