Chiba Bank : announces Establishment of Joint Venture Company Towards the Joint Operation of Measures to Anti-Money Laundering and Countering the Financing of Terrorism
November 31, 2023
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CHIBA BANK NEWS
November 1, 2023
Company Name:
The Chiba Bank, Ltd.
Representative:
Tsutomu Yonemoto, President
Stock Exchange Listing:
Tokyo (code: 8331)
Chiba Bank announces Establishment of Joint Venture Company
Towards the Joint Operation of Measures to Anti-Money Laundering
and Countering the Financing of Terrorism
Wednesday, November 1, 2023 - The Chiba Bank (President: Tsutomu Yonemoto) ("Chiba Bank" or
"the Bank") announced the establishment of TSUBASA-AML Center Co., Ltd. ("New Company") as a joint venture to jointly manage measures to anti-money laundering and countering the financing of terrorism ("AML/CFT"), together with Daishi Hokuetsu Bank, Ltd. (President: Michiro Ueguri) and the Chugoku Bank, Ltd (President: Sadanori Kato) collaborating in TUSBASA alliance and Nomura Research Institute, Ltd. (Chairman & President: Shingo Konomoto) ("NRI").
In order to strengthen AML/CFT countermeasures, the Bank has been working on joint planning and research on AML/CFT countermeasures within TSUBASA Alliance Co., Ltd.*2 in addition to its own initiatives. However, with increasing international demand, the Bank will combine the extensive practical knowledge and experience of TSUBASA alliance banks with NRI's advanced financial IT solutions to jointly manage AML/CFT countermeasures.
For the time being, operating the New Company under a framework focusing on banks participating in TSUBASA Alliance. In the future, planning to invite other regional financial institutions to participate and use the New Company as a platform for regional financial institutions to maintain a stable AML/CFT system over the long term.
Chiba Bank has made its core purpose "To create a local community better suited to bringing each person's hope to life," and aims to be an engagement bank group that works closely with the community by providing social value, such as contributing to the resolution of regional social issues.
[Overview of Joint Venture Company]
Company Name
TSUBASA-AML Center Co., Ltd.
Address
1-5-5, Nihonbashi Muromachi, Chuo-ku, Tokyo
Representative
Kensuke Ueda, Senior Deputy General Manager in charge of AML, Chiba Bank
Common stock
82.5 million yen (Separate capital reserve 82.5 million yen)
Investment ratio
Chiba Bank 51.5%, Nomura Research Institute 19.4%,
Daishi Hokuetsu Bank 14.5%, Chugoku Bank 14.5%
Business
Joint operation of AML/CFT countermeasures
(exchange transaction analysis business)
Date of Esta blis hme nt
Wednesday, November 1, 2023
Commencement of business
Scheduled for the second half of FY2024
End
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Disclaimer
Chiba Bank Ltd. published this content on 01 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2023 15:54:06 UTC.
The Chiba Bank, Ltd. is a banking group organized around 3 areas of activity:
- banking;
- leasing;
- other.
At the end of March 2021, the group had JPY 14,087.8 billion in current deposits and JPY 11,166.2 billion in current loans.
Products and services are marketed through a network of 186 branches mainly located in Japan (183).
Chiba Bank : announces Establishment of Joint Venture Company Towards the Joint Operation of Measures to Anti-Money Laundering and Countering the Financing of Terrorism