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Standard Bank and the Japanese Mizuho Corporate Bank had signed a co-operation agreement to assist Japanese companies in Africa, it was announced yesterday. “The co-operation agreement, signed at Standard Bank centre in Johannesburg, covers a wide range of investment and commercial banking business,” Standard Bank said. Through the agreement, Mizuho would offer its clients, many of whom are already in Africa, a full range of banking services. Mizuho and Standard Bank would offer local currency denominated remittances, local currency denominated loans and other financing, trade finance and project finance. Mizuho is a subsidiary of Mizuho Financial Group, which is one of the largest financial institutions in Japan. Standard Bank shares lost 1.13 percent to close at R108.96. – Sapa
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