Taiwan

Only six Taiwanese banks have ventured to open a branch in China after restrictions were relaxed.

Tie up with Bank of China and Bank of Communications furthers lender’s expansion in the country.

It’s the first Intelligent Cash Automation Solution order from Asia Pacific region to implement P2801L AutoDepot at RT Mart Taiwan.

Despite weakening credit profile, the company to direct more funds into foreign investments with fixed incomes.

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

Only six local lenders made it to the NT$10 billion (US$333.33mn) club last year.

The lender has added capital of its HCM City branch by US$75mn, contributing about 25% of total income from all overseas branches.

TCB and BoComm to work hand-in-hand to provide banking services as the former sets its sight on the Chinese banking market.

The lender seen to use its affiliate Hau Nan Bank to form a leasing firm to immediately engage in CNY-based businesses in the Mainland.

Taiwan’s regulator approved Ruenchen $2.16bn bid for AIG the unit after rejecting 11 months ago.

Yet mergers of key players might be postponed due to the coming presidential elections.

Experts believe trend to continue amidst the possible signing of an insurance trade pact between Taiwan and China and Taiwan’s 2012 presidential elections.

ABC and Taiwan Cooperative Bank will enter into comprehensive cooperation in corporate banking, investment banking, treasury operations, trade finance, custody business, risk management, information exchange and personnel training.

ABC has signed a memorandum of understanding with Cathay United Bank to enter into broad cooperation in several areas.

The lender cleared to hold financing, syndicated lending, purchasing and holding securities, remittances and foreign-exchange trading services in the US city.

ICBC is the fourth Chinese bank with which First Bank had signed an MOU for overseas expansion.