Iyo Bank is set to become the first Japanese regional ship finance specialist to build up its portfolio abroad.
Its traditional base of business — funding newbuildings for Japanese shipowners on the basis of long-term contracts to domestic charterers — is shrinking, and it has set up a Singapore branch to maintain its volume of business.
Based in the city of Imabari — home to more than 70 shipowners— in the southern prefecture of Ehime, Iyo has a $5bn shipping portfolio, which constitutes about 14% of its total.
