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Japan's Resona Bank to inject ¥10B into Singapore unit

Japan's Resona Bank Ltd. will inject ¥10 billion into fully owned Singapore-based unit Resona Merchant Bank Asia Ltd., The Nikkei reported Aug. 5.

The funding will triple Resona Merchant Bank Asia's capitalization and would help it bolster its lending to Japanese midsize companies breaking into the Southeast Asian market.

As of Aug. 5, US$1 was equivalent to ¥106.13.