Date
24 September 2017

Bank SinoPac targets over 10% ROE for Nanjing branch, paper says

Taiwan’s Bank SinoPac Co. Ltd. aims to see its Nanjing branch, which is set to open by the year-end, make a profit in the first year and achieve a return on equity (ROE) of over 10 percent in three years, China Times reported Monday, citing Michael Chang, chief strategy officer of the bank’s parent company SinoPac Holdings Co. Ltd. The annual profit goal for the branch is at NT$1.5 billion (US$51.04 million), according to the report. Meanwhile, SinoPac Securities Corp. will apply to set up a fully licensed brokerage in the mainland after a cross-strait service agreement is passed by Taiwan parliament, the report said.

– Contact HKEJ [email protected]

TL/AC/RC

 

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