The board of the Agricultural Bank of Taiwan (
The Cabinet on Monday named Chen as bank president to fill the vacancy left by Ding Wei-hau (丁偉豪), who became chairman of a life insurer under the newly formed Taiwan Financial Holding Co (台灣金控), also as part of personnel reshuffling by the government.
"The board decided to schedule another date to discuss this personnel proposal, as some board members are concerned about procedural issues," the bank said in a statement released yesterday.
The board meeting lasted five hours and finished around 10pm last night. The 15-member board usually finishes its agenda in one hour.
"We did not expect it would take that long," company spokesman Shen Chi-nan (
Chairman Huang Lee-yue (
The Council of Agriculture owns 49 percent of the Agricultural Bank, which was established in May 2005.
Chen, 55, is a former president of the Export-Import Bank of the Republic of China (
"I am familiar with the farmers' association and I believe that there are few people with this level of expertise in the nation's banking sector," Chen told reporters yesterday.
He said his priority at the Agricultural Bank would be integrating the operations of about 1,500 farmers' and fishermen's association outlets around the nation.
"One of the major problems faced by the credit departments of farmers' and fishermen's associations is their small scale. Integration will help solve this problem," Chen said. "Japan's experience in this regard sets a good example."
The outlets should work together selling the same financial products, rather than promoting different packages as they do now, Chen said.
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RESHAPING COMMERCE: Major industrialized economies accepted 15 percent duties on their products, while charges on items from Mexico, Canada and China are even bigger US President Donald Trump has unveiled a slew of new tariffs that boosted the average US rate on goods from across the world, forging ahead with his turbulent effort to reshape international commerce. The baseline rates for many trading partners remain unchanged at 10 percent from the duties Trump imposed in April, easing the worst fears of investors after the president had previously said they could double. Yet his move to raise tariffs on some Canadian goods to 35 percent threatens to inject fresh tensions into an already strained relationship, while nations such as Switzerland and New Zealand also saw increased
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