Taiwan

The company became more driven to acquire life insurance firm after losing bid to buy MetLife Taiwan.

The move will expand Chinatrust’s capability to offer insurance and diversify its revenue sources.

The Taiwanese lender has already inked two separate pacts with Bank of China and Bank of Nanjing since China and Taiwan signed the Economic Cooperation Framework.

With the approval the CCB Taiwan representative office can engage in non-operating activities like communicate with Taiwanese banking institutions and clients and collect local financial information.

Products can yield high interest rates of up to 5.38% whose minimum amount that can be transferred is US$10,147, while the maximum is US$338,249.

The banks follow suit the migration of Taiwanese companies to Vietnam behind its low manufacturing and labor costs.

Local Taiwanese banks follow HSBC’s move to fund expansion of lending business.

The Taiwanese bank also planned to forge ties with Bank of China.

The country’s economic recovery prompted 9 banks to beef up workforce.

Yet the lender still needs approval from Chinese lender to complete upgrade.

Companies to hike pay to up to 10% to employees who performed well.

Chinatrust sets its sight on Metlife after it failed to win AIG Taiwan unit bidding.

 

 

Taiwan’s Cross-Strait Common Market Foundation that the number of Taiwan banking institutions that are approved to set up China branches has grown to seven.

The lender wants to tap on Lee’s wealth of experience as executive in various Taiwanese banks.