First Commercial Bank mulls launching branch in Chengdu

The lender applied for a second branch in China with its Shanghai operations earning US$500,000.

First Commercial Bank, a subsidiary of First Financial Holding Co., recently announced its application to set up a branch in Chengdu in Sichuan Province for one billion renminbi (RMB) or about NT$4.5 billion (US$150 million), after having set up last December its first China branch in Shanghai.

Chinese authorities will generally allow Taiwanese banks to set up second branches after their first branches have been running profitably for at least one year.

C.Y. Lin, president of First Bank, says the branch in Shanghai has so far scored profits of US$500,000 or about NT$14.5 million and should have no problem with the second branch.

Lin adds that the Chinese government encourages financial firms to set up footholds in central and western China to help regional economic development, hence the right time to apply, whose approval will make First Commercial the first Taiwanese bank to set up its second branch in China.

View the full story in News CENS.

Follow the link for more news on

Also Read

Deutsche Bank injects €571m to support India growth plans

Krungthai Bank temporarily closes 4 branches due to floods

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit