Two global banks set to establish branches in Taiwan
Sep 05, 2017MarketComments Off on Two global banks set to establish branches in Taiwan
Two of the top 500 banks in the world have expressed interest in establishing a foothold in Taiwan. The Financial Supervisory Commission (FSC) said Taiwan welcomes foreign banks as long as they meet the regulations and their financial status and management mechanisms are in good order.
The deputy director of the FSC's Banking Bureau, Wang Li-chun, said that the two international banks plan to open their initial offices in Taipei. He declined to name the banks concerned. Wang said the banks could expand to other cities in the country in the future. As the two are among the world's top financial institutions, they will be able to directly open branches instead of representative offices.
Over the past two years, banks from Vietnam, France and Japan have set up branches or representative offices in Taiwan, with France-based Natixis the latest to open a Taipei branch earlier this year.