On July 5, 2006, Mizuho Corporate Bank, Ltd. (President & CEO: Hiroshi Saito) received approval from the Bank of Italy to open a branch in Milan, pursuant to a previously submitted application. Accordingly, Mizuho Corporate Bank is proceeding with preparations for the opening of its Milan Branch, aiming for start-up of operations in fiscal 2006.
Italy ranks fourth in terms of economic size in the European Union, following Germany, the United Kingdom and France, and more than two-hundred Japanese corporations have established business operations in Italy. While Mizuho Corporate Bank has been providing support and services to customers in Italy through its London Branch and Mizuho Corporate Bank Nederland N.V., the establishment of the Milan Branch, based on this approval from the Bank of Italy, will enable Mizuho to provide comprehensive support to those customers, based on a closer and more direct relationship.
Outline of Milan (reference)
| Population (December 2004) | 4.3 million (Greater Milan) |
|---|---|
| Description | Milan, the second largest city in Italy, is located in the northern part of the country. While Italy's capital city, Rome, is the country's political and cultural center, Milan is the center of industry and fashion. |