22 February 2019

Taiwan to push for govt bank mergers, paper says

The heads of Taiwan’s Ministry of Finance, Financial Supervisory Commission and central bank are set to jointly push for consolidation in the island’s financial sector, and plan to put their proposal to Premier Jiang Yi-huah after the Lunar New Year, Economic Daily News reported Monday. According to some industry insiders, one option is to let government-owned Mega Financial Holding Co. Ltd. merge with one of the three other government-owned banks: First Financial Holding Co., Ltd., Hua Nan Financial Holdings Co. Ltd. or Taiwan Cooperative Bank Co. Ltd. The ministry is pushing for government-owned banks to merge with each other rather than with private banks, the report said.

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