Tata Capital signs pact with Japanese bank

July 22nd, 2008 - 5:24 pm ICT by IANS  


Mumbai, July 22 (IANS) Tata Capital, a wholly-owned subsidiary of Tata Sons Ltd, has entered into an alliance with the Tokyo-based Mizuho Corporate Bank Ltd for cooperation in various business areas, it said here Tuesday. In a regulatory statement, the company said the agreement aims to enhance cross-market capabilities and helping each other in gaining a deeper understanding of the Indian and Japanese markets.

The pact will also strive to strengthen cooperation in areas such as project and infrastructure financing and treasury products.

“The alliance will help both the entities co-develop offerings and shared services platforms for corporate customers,” Tata Capital managing director Praveen P. Kadle said.

Added Mizuho’s international banking unit managing executive officer Hidetake Nakamura: “Combining our two expertise and coverage should prove to be a strong and able seed for our continued growth.”

Earlier, in February, Tata Capital had signed an agreement with Mizuho Securities Co., a subsidiary of Mizuho Corporate, to strengthen business collaboration in various areas of business, including private equity and wealth management.

Mizuho Corporate Bank is a wholly-owned subsidiary of Mizuho Financial Group and provides solutions to several foreign and domestic corporations, financial institutions and public sector entities in corporate finance, project finance and trade finance.

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