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DBP, Daiwa sign MOU on investment banking

Photo shows DBP chairman Jose A. Nuñez, Jr. (left) and DBP president and chief executive officer Gil A. Buenaventura (right) with Daiwa Securities Group Inc. president and chief executive officer Takashi Hibino. At back are other officers from Daiwa.

The Development Bank of the Philippines (DBP) and Daiwa Securities Group Inc. recently signed last November 5 a Memorandum of Understanding (MOU) to establish a business alliance in the area of investment banking.

Under the terms of the MOU, DBP and Daiwa will provide Philippine and Japanese companies with investment banking advisory services and support for their financing needs from the Philippine and overseas capital markets. The alliance will also provide Japanese business companies with professional advice for their entry into the Philippine market.

DBP and Daiwa established a joint venture company, DBP Daiwa Capital Markets Philippines, Inc. (DBP-Daiwa), in 1995.  DBP-Daiwa is a member of the Philippine Stock Exchange and mainly focuses on the brokerage of Philippine equities.  The success of this partnership inspired the enhancement of the collaboration in investment banking.