Mizuho Financial Group Inc., Japan's second-largest bank, said it will form an alliance with Mexico's Grupo Financiero Banorte SA to expand financing of energy-related projects and simplify fund transfers.
Mizuho will also use the agreement to help Japanese companies transfer funds to and from Mexico, said Masako Shiono, Mizuho's Tokyo-based spokeswoman, confirming a report earlier today by the Nikkei newspaper.
"Mexico is a very resource-rich country,'' Shiono said. ``This is one of the reasons for the agreement.
Mizuho said it would release a statement on the tie-up with Mexico's fifth-biggest bank by assets this afternoon.
To contact the reporter on this story: Finbarr Flynn in Tokyo at fflynn3@bloomberg.net
source news : bloomberg.com
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