Taiwan Financial Holding Co (台灣金控) chairman Tsai Jer-shyong (蔡哲雄) said yesterday that his company would seek to go global by forging strategic alliances with foreign financial institutions or through buying them outright.
Taiwan Financial Holding, the largest financial institution in Taiwan, has also committed to "serving Taiwanese businesspeople worldwide, wherever they are," said Tsai, who arrived in Singapore on Sunday with several executives on a fact-finding tour.
TALKS
Tsai said his firm was in talks with several leading financial institutions over the feasibility of jointly offering mutual funds on international fund markets.
He declined to disclose the foreign financial institutions in talks with Taiwan Financial Holding.
The head of Taiwan Financial Holding said that in addition to speeding up its globalization strategy, the company would make "serving Taiwanese businesspeople overseas" one of its top business priorities.
EXPATRIATES
Taiwan Financial Holding, which was inaugurated in Taipei on Jan. 1, will offer overseas Taiwanese businesspeople diverse financial services, including stocks and securities, insurance, mutual funds and personal financial management.
Tsai and his group were scheduled to depart for Thailand last night to continue their Asian business trip, which will also take them to Hong Kong.
MAJOR LEAGUE
Taiwan Financial Holding was formed through a merger of the Bank of Taiwan (
With about NT$5.12 trillion (US$157.83 billion) in assets, NT$3.88 trillion in deposits and NT$3.24 trillion in active loans, Taiwan Financial Holding has an 18 percent share of the domestic market.
It is not only Taiwan's largest financial institution but also the nation's first holding company to rank among the world's top 100, placing No. 18 among Asian banks and No. 89 globally.
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