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Vietnam and Singapore become new outposts for Japan regional banks

Gunma Bank and Bank of Yokohama shift resources from London and Hong Kong

Joggers run near the Merlion Park in Singapore. Japan's Bank of Yokohama has opened a branch in the Southeast Asian financial hub.   © Reuters

MAEBASHI, Japan -- Two of Japan's biggest regional banks have picked Southeast Asia as a location for new offices to support client companies' expansion into the region, shifting resources from Hong Kong and London.

Gunma Bank, headquartered northwest of Tokyo, will open a representative office in Ho Chi Minh City this fiscal year to meet growing borrower interest in Vietnam. Bank of Yokohama will close its representative office in London this month in conjunction with its branch opening in Singapore in August.

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