CTBC Financial inks cooperation pact with Miyazaki Bank

JAPANESE CONNECTION::It is the fourth MOU the group has signed with a Japanese bank as it seeks to expand its clientele and operations overseas

By Crystal Hsu  /  Staff reporter

Wed, Oct 16, 2013 - Page 14

CTBC Financial Holding Co (中信金控) yesterday signed a cooperation agreement with Miyazaki Bank, a major regional lender on the island of Kyushu, as the conglomerate seeks to further expand its customer base and business in Japan.

Miyazaki Bank is the fourth Japanese bank to have signed a memorandum of understanding (MOU) with CTBC since June after Shizuoka Bank, ShinGinko Tokyo Ltd and Bank of Kyoto.

“The MOU will enable both banks to better serve corporate customers in Taiwan and Japan by providing them with the necessary capital and business intelligence to expand,” CTBC Financial said in a statement.

CTBC president Daniel Wu (吳一揆) signed the MOU with his counterpart Koichi Koike at Miyazaki Bank, the statement said.

Established in April 1932, Miyazaki Bank offers deposits, loans, foreign currency exchange, investment banking and other services through 96 outlets in Japan, the statement said. It has capital of ¥4.7 billion (US$147 million) and total assets of ¥2.21 trillion.

CTBC Bank (中信銀行), the group’s flagship firm with 147 branches in Taiwan and 68 outlets abroad, will trade merger and acquisition as well as joint-venture intelligence with its new Japanese partner, the statement said.