Bank of Taiwan join forces with ICBC

The Taiwanese lender has already inked two separate pacts with Bank of China and Bank of Nanjing since China and Taiwan signed the Economic Cooperation Framework.

Government-owned Bank of Taiwan said Tuesday it plans to sign a cooperation agreement with Industrial & Commercial Bank of China Ltd. to help develop ties and enable the exchange of information.

The statement didn't provide further details.

ICBC couldn't be immediately reached for comment, according to a report in NASDAQ.

Bank of Taiwan has signed two separate cooperation pacts with Bank of China Ltd. and Bank of Nanjing Co. since June 2010, when China and Taiwan signed the Economic Cooperation Framework Agreement, the first cross-strait trade pact that opened services, including banking, to cross-strait investment.