Foreign news: Metrobank and Bank of Yokohama join forces, HSBC Indonesia to 'integrate' Bank Ekonomi

Japan's Bank of Yokohama has entered into an alliance with local partner Metrobank to facilitate banking services for Japanese small and medium enterprise clients in the Philippines. These SMEs are the primary sources of raw materials, finished and semi-finished products that end up with major Japanese manufacturing firms. The Philippines Star reports Metrobank has 45 other partnerships with Japanese regional banks. ANZ has a cards joint venture with the Filipino bank.
The integration of HSBC Indonesia and local subsidiary PT Bank Ekonomi is expected to be completed in 2017. The Jakarta Post reports HSBC will be the first foreign bank to integrate its branch with its local subsidiary. 
The default rate of corporate car loans in Japan has declined, owing to an improvement in the operating environment for small and medium enterprises and stronger credit screening by lenders. Moody's Investors Service said this is "credit positive" for Japanese auto loan asset backed securitisations that have corporate auto loans as the underlying assets. Moody's said a further improvement in the default rate of corporate car loans is unlikely because the recovery in the operating environment for SMEs in Japan remains "moderate".