Yuanta Commercial Bank from Taiwan opens Hong Kong branch
Yuanta Commercial Bank from Taiwan officially opened its Hong Kong branch today (2 January, 2018), leveraging Hong Kong’s status as an international financial centre and its strategic location to expand its business outside Taiwan and extend its footprint in the Greater China market.
The Hong Kong branch is the bank’s third outside Taiwan after those in Korea and the Philippines. The Hong Kong branch provides such banking services as deposits, remittance, foreign currency loans, international syndication loans and import and export trade financing to companies, especially those operating in the Greater China market.
According to Yuanta Commercial Bank, the opening of the Hong Kong branch offers a strategic foothold for its parent company, Yuanta Financial Holdings, in accessing the commercial banking industry of the Greater China region. Hong Kong’s free and open financial market and its location at the centre of the Greater China region make it the best place for the bank to provide more diverse and comprehensive professional financial services to its clientele in the region.
The Hong Kong branch will further develop the group’s business in Asia by tapping the bank’s extensive network in Taiwan as well as synergising resources from its two subsidiaries in Korea and the Philippines to achieve maximum operation efficiency. The group will also seek to expand its business scale by using the Hong Kong branch to build relations with local enterprises.
Associate Director-General of Investment Promotion Mr Charles Ng welcomed the opening of the Hong Kong branch of Yuanta Commercial Bank. He said, “Hong Kong is an international financial centre with free flow of information and capital, advanced financial infrastructure and an effective regulatory regime. The city has attracted a rich pool of financial professionals and institutions, and is indeed one of the most important bases for financial and banking giants.”
About Yuanta Commercial Bank
Founded in 1992 and headquartered in Taipei, Taiwan, Yuanta Commercial Bank is a subsidiary of Yuanta Financial Holdings, which is one of the top 50 listed companies in Taiwan. After merging with Ta Chong Bank yesterday (1 January, 2018), Yuanta Commercial Bank has become the seventh largest private bank in Taiwan with total assets exceeding NT$1.34 trillion and 153 branches, joining the ranks of medium- and large-sized banks. For more information, please visit www.yuantabank.com.tw/bank/.
About Invest Hong Kong
InvestHK is the department of the Hong Kong Special Administrative Region Government established in 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies enrolled as its clients. For more information, please visit www.investhk.gov.hk.
For an event photo, please visit www.flickr.com/photos/investhk/albums/72157662055518507.