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Tata Capital in strategic alliance with Mizuho Corporate Bank

Tata Capital in strategic alliance with Mizuho Corporate Bank
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First Published: Tue, Jul 22 2008. 12 08 PM IST
Updated: Tue, Jul 22 2008. 12 08 PM IST
PTI
New Delhi: In a bid to emerge as a holistic provider of financial services Tata Capital has entered into a strategic alliance with Mizuho Corporate Bank, a move that will foster business cooperation in a wide range of strategic business areas.
Tata Capital and Mizuho Corporate concluded a memorandum of understanding aimed at fostering business cooperation, enhancing cross-market value relation capabilities and aiding each other in gaining a deeper understanding of the Indian and Japanese markets.
“Our MoU will help both the entities co-develop innovative offerings and shared services platforms for the evolving corporate customers. The alliance is a step towards Tata Capital fulfilling its vision of emerging as a holistic provider of financial services,” Tata Capital Managing Director Praveen P Kadle said.
The MOU sets out the framework for cooperation in a wide-range of business areas including Ninja Loans, Project and Infrastructure Finance and Treasury Products, a company statement said.
“Combining our two firms’ expertise and coverage should prove to be a strong and able seed for our continued growth,” Mizuho Corporate Bank Managing Executive Officer International Banking Unit Hidetake Nakamura said.
In February this year, Tata Capital had entered into an MOU with Mizuho Securities, a subsidiary of Mizuho Corporate, to strengthen business collaboration between the two companies in various areas of business.
Mizuho Corporate Bank is a wholly owned subsidiary of Mizuho Financial Group that provides optimal solutions to major foreign and domestic corporations in the areas of corporate finance, project finance and trade finance.
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First Published: Tue, Jul 22 2008. 12 08 PM IST