Mizuho Corporate Bank signs MoU with China CITIC Bank
Mizuho Corporate Bank, Ltd. and Mizuho Corporate Bank (China), Ltd., a wholly owned subsidiary of MHCB, concluded a Memorandum of Understanding for business collaboration with China CITIC Bank Corporation Limited. The objective of the MOU is to strengthen cooperation in areas of business related to China and Japan, such as trade finance and syndicated loans, while actively utilizing the corporate customer base and business know-how of each of the respective parties.
As a “cornerstone investor”, MHCB acquired HK$400.0 million (approximately JPY6.0 billion) of China CITIC Bank’s Class H common shares issued on the Stock Exchange of Hong Kong Limited when China CITIC Bank was listed simultaneously on the Stock Exchange of Hong Kong Limited and the Shanghai Stock Exchange in April of this year.
By concluding this MOU, both China CITIC Bank and Mizuho plan to further develop the cooperative relationship between them. — www.theasianbanker.com (October 31 2007)–