New York – Mizuho Bank, Ltd. (Mizuho) today announced the signing of a business cooperation agreement with Banco Santander Río S.A. (Santander Rio), a major private-sector bank in Argentina and a subsidiary of Spain’s largest bank, Banco Santander.
Santander Río is one of the largest private sector banks in Argentina, boasting top-five shares of deposit and lending business in the country as well as one of the widest domestic networks with approximately 400 branches (as of September 2016).
Argentina is rich in natural resources and one of the largest exporters of agricultural products in the world. As the third largest economy in Latin America after Brazil and Mexico, the country’s economic growth potential is expected to create opportunities for expanding commercial trade and investment activities for Mizuho’s Japanese and global corporate client base in Asia, Europe and the Americas.
The business cooperation agreement with Santander Rio is intended to create a service platform to support the business activities of Mizuho customers in Argentina. Mizuho will now be able to provide customers with a broad range of financial services, including local currency transactions, as well as information on the local economy through Santander Río.
Mizuho has continued to develop its business platform in Latin America, having opened its Brazilian banking subsidiary Banco Mizuho do Brasil in July 2013 and a representative office in Santiago in September 2014. With the signing of this business cooperation agreement in Argentina, Mizuho will have an additional advantage in supporting customer business expansion in country while contributing to the overall economic development of the region.
About Mizuho Americas
Mizuho Americas comprises several legal entities, which together offer clients corporate and investment banking, financing, securities, treasury services, asset management, research and more. With professionals in offices throughout the US, Canada, Mexico, Brazil and Chile, Mizuho’s operations in the Americas connect a broad client base of major corporations, financial institutions and public sector groups to local markets and a vast global network. Mizuho Americas is an integral part of the Japan-based Mizuho Financial Group, Inc. Learn more at mizuhoamericas.com
Mizuho Financial Group, Inc. (NYSE: MFG) is one of the largest financial institutions in the world, offering comprehensive financial and strategic services including private banking and venture capital through its subsidiaries. The group has over 56,000 employees working in over 900 offices in nearly 40 countries throughout the Americas, EMEA and Asia. At the end of March 2016, its total assets were $1.8 trillion.