Printer Friendly

First financial to focus on China and SE Asia in 2012.

Taipei, Oct. 7, 2011 (CENS) -- First Financial Holding Co., Taiwan's government-linked financial holding company, plans to focus on overseas operations next year, mainly China and Southeast Asia.

C.N. Tsai, the chairman, says the company completed capital increment late last month to raise the tier 1 capital ratio to 8%, which is core equity to total assets, hence is able to expand overseas operations.

First Commercial Bank, an affiliate of First Financial, has a branch in Shanghai and plans to set up the second in Chengdu, Sichuan Province, where it plans to set up a second leasing subsidiary, with the applications for both the establishments having been submitted for approval. The planned Chengdu bank branch is scheduled to open before June 2012 and the leasing subsidiary even earlier.

Tsai disclosed that FFH may acquire small-and/or medium-sized banks in S.E. Asia to meet potential growing demand there.
First Financial's Operations in Asia

 Status

Singapore One bank branch

Thailand One representative office in Bangkok

Vietnam Two bank branches, one in Hanoi and the other in Ho Chi
 Minh City

Cambodia One bank branch in Phnom Penh

Hong Kong One bank branch

Macao One bank branch

Japan On bank branch in Tokyo

China One bank branch in Shanghai and one leasing subsidiary
 in Suzhou of Jiangsu Province
COPYRIGHT 2011 China Economic News Services
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Author:Li, Judy
Publication:The Taiwan Economic News
Date:Oct 7, 2011
Words:216
Previous Article:Taiwan sees 40% rise in greenback loans in first 8 months.
Next Article:Arima to challenge smartphone shipment of 7m. units in 2012.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters