Resona Bank Sets Up U.S. Office for 1st Time in 21 Yrs

Los Angeles, April 25 (Jiji Press)--Resona Bank has opened a representative office in Los Angeles, the Japanese bank's first such office in the United States in 21 years since its withdrawal from New York in 2004.

The move reflects the bank's aim to enhance business support for some 1,200 client companies operating in the United States.

The new office, opened on Friday, will introduce suppliers or sales partners to the clients seeking to expand their business in the country. It will also encourage the companies' export and import operations by providing financing through Resona Bank's branches in Japan and partner banks in the United States.

Furthermore, the office will provide information on law firms and other experts to help clients deal smoothly with state regulations and the Trump administration's high tariff policy.

At the opening ceremony of the office, Resona Bank Executive Officer Gen Nakahara said that the high tariff policy has been affecting the bank's Japanese clients greatly. "We were able to open the office at a time when help is needed more than ever in resolving various problems," he said.

[Copyright The Jiji Press, Ltd.]