Spain's Banco Bilbao Vizcaya Argentaria announced Wednesday the opening of a branch in Tokyo with the aim of financing Japanese firms doing business in Latin America.
The second-largest Spanish bank by assets has a strong presence in Central and South America, where long-ailing Japanese banks are still cautious.
BBVA, with a staff of 10 in Tokyo, is the only Spanish bank operating in Japan. Spain's largest bank, Banco Santander Central Hispano, pulled out of the country in 2000.