Mizuho Corporate Bank ties up with Russian bank
TOKYO —
Mizuho Corporate Bank and ZAO Mizuho Corporate Bank (Moscow) have entered into a general business cooperation agreement with Sberbank of Russia, the largest financial institution in Russia. The cooperation agreement covers a wide range of investment and commercial banking business, and this represents the first time that Sberbank has entered an agreement of this nature with a Japanese financial institution.
Sberbank of Russia is the largest Bank in Russia, Central and Eastern Europe, with approximately 30% of the total assets of the Russian banking system. The Central Bank of the Russian Federation is the founder and the majority shareholder of Sberbank (over 60% of the voting shares), with the rest of the shares dispersed among more than 245,000 individuals and legal entities.
This cooperation agreement is aimed at fostering closer cooperation in financial services to assist Japanese companies in Russia. MHCB will seek to provide a full range of support to its Japanese clients, many of whom already have established businesses in Russia or who are conducting business with Russian companies. MHCB will be able to offer a variety of services such as Ruble-denominated remittances, Ruble-denominated loans and other financing, trade finance, and project finance.
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21 Comments
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0
NetNinja
This is okay. Just don't buy any of their airplanes from them.
Maybe they can start sending more Russian women over to work during Mizuho's Bonenkai party which is coming up soon. I think the Russian girls really help close the deal.
3
Konsta
Could be, on the contrary, Russians and Chinese are about to get some Japanese ones for such a work, heh:
http://www.reuters.com/article/2011/06/24/china-russia-sberbank-idUSL3E7HO0Y220110624
3
Asagao
Good luck with bribes, corruption and the mafia
-1
Foxie
That's a great move.
2
The Munya Times
Which one will ruin the other?
-1
BessonovYan
That would more comfortable for Toyota, Mitsubishi, Mazda and many other Japanese companies.
-1
Konsta
I think they may, actually, do fine. Sberbank of Russia is worth $75 billion + CIC worth $300 billion + Mizuho Corporate Bank (don't know how much it is worth) + state support from Russia and China, which is very important in those two countries. Mizuho Corporate made a good, safe choice.
-1
BessonovYan
@NetNinjaSep. 17, 2011 - 07:47AM JST
Our engineering is the best in the world. But we have problem of quality serious produce of components for cars, airplanes. If Japanese companies would produce components for our cars, airplanes then would be the good for Japan and Russia. Because we not never clone Japanese technology as China.
-1
shinhiyata
Considering that Russia and Japan have no formal peace treaty regarding the 2nd World War, Japan deems Russia's occupation of the Kuril Islands as illegal, and Russia has been flying it's strategic bombers around Japan lately, I'm at a loss to understand how this is legal or acceptable to the Finance Ministry of Japan? How can MHCB offer monetary remittances in the currency of a country Japan is still technically at war with?
-1
The Munya Times
KonstaSep. 17, 2011 - 07:06PM JST
Yes, it's fine thanks for the figures, I mean they show their choice is fine, but you know it is not going to end up like this, it might just open the door to another tie up or to new road ahead and I don't know how they are going to handle that. Remember the other banks like e.g. Central, went to Bank Austria went to UniCredit. That kind of future was going on in my mind. Who's going to be the next one for whom trying to acquire the whole of it in order to monopolize. How long does it remain business and when will it become politics?
Kind of magic door that opens in three directions.
-1
shinhiyata
State support from Russia - a neo-mafia energy-resource oligarchy backed by remnants of the KGB - and China - a totalitarian police state propped up by currency manipulation and virtual slave-labor wages = a good safe choice by Mizuho ??? Couldn't help but notice all of your figures are in USD.
-1
lucabrasi
@shinhiyata
Because, luckily, the real world goes on day by day without reference to ridiculous concepts like "technically at war". It's the way we humans do things.
0
BessonovYan
@shinhiyataSep. 17, 2011 - 11:25PM JST
You have rich fantazy!
-1
Konsta
Funny, isn't it? How could it be? All the free TV and newspapers tell me one thing: remnants of the KGB, totalitarian police, neo-mafia, but in reality there happens something different. You fail to understand it, because MHCB does not operate with copy/paste materials from the TV and newspapers. It operates with numbers and firsthand information on-site. It finds it profitable and safe.
That's easy. We live in a dollar financial system, created by the US. Everything else, including Euro, Ruble, Yuan, Yen, etc. is secondary. That is why even during the crisis in the US, the dollar is going up. It will go up even with respect to Yen, when the time will come. I'd say that dollar is the only real currency within the current economical system. Everything else is just paper for local exchange. Remnants of KGB and the totalitarian police understand that. Good for them.
1
YuriOtani
Mizuho Bank must have rocks in their head. When they lose their money they will demand a bailout from the government.
-1
BessonovYan
@YuriOtaniSep. 18, 2011 - 06:27AM JST
You must write list Japanese companies that lose money in Russia for 65 last years.
-1
Konsta
BessonovYan, don't bother. There is no such a list. MHCB will work with Japanese car companies in Russia. As long as they do fine, everything will be all right.
-1
Konsta
BessonovYan, don't bother. There is no such a list. MHCB will work with Japanese car companies in Russia. As long as they do fine, everything will be all right.
-1
shinhiyata
If 'technically still at war" is such a ridiculous concept, then I have a hotel in Kumgangsan and a factory in Kaesong that I would love for you to invest in. Please remit your currency in USD so I can convert it to yen.
-1
Konsta
Well, if those two are created by you (assuming you are Japanese) or any other Japanese business, then why not. As it was already mentioned by me before, the primary aim of MHCB in Russia is to take care about numerous Japanese car and construction companies, as well as any other Japanese businesses in that country. The key word is "Japanese", see? At least for now.
-2
Elbuda Mexicano
I hope the Russians can come to the rescue of Mizuho, because we all know that many Japanese banks are in the red.
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