In the current globalized economy, Mizuho Bank, Ltd. has entered into a Collaboration Agreement with major US bank Wachovia Bank, N.A. in order to meet the diversifying needs of both personal and small- and medium-sized business customers.
Wachovia Bank, N.A. is one of the largest financial institutions in the United States. Originally founded in 1879, the bank now holds more than USD 500 billion in assets. Wachovia provides a full range of financial services to more than 13 million households and business throughout the United States. The bank operates more than 3,300 financial centers and 5,200 ATMs.
On April 26, 2005, Mizuho Bank entered into separate business collaboration with one of the best U.S. super-regional bank, Wachovia Bank, N.A., aiming to reinforce the channel network and products/services internationalized to the highest standard for our retail banking business.
The banks will work together to provide banking solutions for US and Japanese exporters seeking to mitigate collection risks such as credit risks from importers.
Investment trust developed jointly by Wachovia Corporation's asset management subsidiary which has over seventy years of experience and Mizuho Financial Group will be added to Mizuho Bank's investment management product lineup so as to meet the diversifying needs of Japanese customers.
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