Date
19 October 2017

Taiwan banks aim to branch out into Fujian, paper says

Several Taiwan banks, including Hua Nan Commercial Bank Ltd., Taiwan Cooperative Bank Ltd. and First Commercial Bank Co. Ltd., are looking to set up mainland branches in Fujian province in the next stage of their expansion plans, Economic Daily News reported Wednesday. According some managers at the banks, the lenders aim to take advantage of the incentives offered by the Western Taiwan Straits Economic Zone, where they will be allowed to set up branches in other cities in Fujian rather than just one urban center. The island’s Financial Supervisory Commission has agreed to let First Commercial Bank establish an outlet in Xiamen and Hua Nan Commercial Bank and Taiwan Cooperative Bank branch out into Fuzhou, pending approval from the mainland’s China Banking Regulatory Commission, the report said.

– Contact HKEJ [email protected]

TL/AC/SK

 

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