JP Morgan Chase Bank, Tokyo branch has received a foreign bank agency licence from the Financial Services agency in Japan. This licence will enable the bank’s Tokyo branch to act as an agent on behalf of its overseas offices for a wide range of wholesale banking operational areas, and to interact as an intermediary between its overseas offices and its clients in Japan.
The foreign bank agency licence further strengthens JP Morgan’s cash management, trade finance and liquidity management capabilities in Japan by allowing the bank to service its clients with one local point of contact. This integrated and seamless approach will also enable the bank to deliver new products and services through its offshore locations in a timely manner.
“We are committed to providing an intimate local experience to our clients and to simplifying our processes. Obtaining our foreign bank agency licence represents an important step for us and more importantly, it will directly benefit our clients in Japan,” says Ricky Kaura, managing director and treasury services Japan business executive at JP Morgan.
JP Morgan will continue to evaluate other banking services, which could be offered through its foreign bank agency licence to benefit its firm-wide clients in Japan.
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