Kiraboshi Bank opens consulting unit in Vietnam to serve small, midsize firms

16, Oct. 2019

Kiraboshi Bank President Hisanobu Watanabe speaks in a ceremony on Oct. 14, 2019 in Ho Chi Minh City to inaugurate the bank’s Vietnam consulting subsidiary. He says the new firm will support a wide range of business matching mainly among medium and small businesses.
Kiraboshi Bank President Hisanobu Watanabe speaks in a ceremony on Oct. 14, 2019 in Ho Chi Minh City to inaugurate the bank’s Vietnam consulting subsidiary. He says the new firm will support a wide range of business matching mainly among medium and small businesses.

HO CHI MINH CITY, NNA - Japan’s Kiraboshi Bank Ltd. has opened a subsidiary in Vietnam as its second overseas consulting arm to reinforce its Asian business in a tie-up with the first unit in China.

A ceremony was held at a hotel in Ho Chi Minh City on Monday to inaugurate the subsidiary, Kiraboshi Business Consulting Vietnam Co., which started operations on Oct. 1. Kiraboshi is the first Japanese regional bank to set up a consulting firm in the southern Vietnam city.

The subsidiary will provide consulting services not only to Kiraboshi’s existing clients in Japan but also to various kinds of businesses, Kiraboshi Bank President Hisanobu Watanabe told NNA. “We will mainly target medium and small businesses as our clients, and support a wide range of business matching,” he said.

About 150 of Kiraboshi’s existing client companies are doing business in Vietnam, according to Kiraboshi Business Consulting Vietnam President Daisuke Yamashita.

Tokyo-based Kiraboshi is categorized as one of Japan’s regional banks, which operate in a limited area. This category of banks also differs from money center banks that have a nationwide presence and may also have a global presence.

In 2009, Kiraboshi opened a consulting subsidiary in Shanghai and, together with the new Ho Chi Minh City unit, it is seen set to build it's envisaged “China plus one” system to support businesses that are spreading or relocating their production bases from China to other countries, particularly Vietnam.

Kiraboshi has been dispatching personnel to the state-backed Bank for Investment and Development of Vietnam (BIDV) to provide its clients with information on business situations and financial services in Vietnam. The new consulting subsidiary will enable the bank to offer a broader range of services other than those in the financial sector.