Taiwan Financial Holdings Group
Encyclopedia
Taiwan Financial Holdings Co., Ltd. (臺灣金融控股公司) is a Taiwan
-based state-owned corporation that contains the Bank of Taiwan
, Land Bank of Taiwan
, the Export-Import Bank of China, BankTaiwan Securities and BankTaiwan Life Insurance.
Founded in 2007 and commenced in 2008 through the legislative approval of the merger, it is the largest financial institution in Taiwan. Today the Group is the 18th largest financial institution in Asia and 89th largest in the world with assets of NT$ 5,458.59 billion and net worth of NT$ 373.17 billion as of March, 2008.
Taiwan Financial Holdings Co. Ltd. filed a merger report in accordance with the Fair Trade Law under Article 6, 11 and 12. The merger report concluded that this will result in the possession of more than 15% of the deposit and loan market and there is no obvious danger of restriction on market competition. The report concluded that the meeting on October 4, 2007 decided the benefits brought by the merger outweigh the negative.
Republic of China
The Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
-based state-owned corporation that contains the Bank of Taiwan
Bank of Taiwan
The Bank of Taiwan is a bank headquartered in Taipei, Republic of China . It is administered and owned by the Executive Yuan of the Republic of China.-History:...
, Land Bank of Taiwan
Land Bank of Taiwan
Land Bank of Taiwan is a wholly state-owned bank of the Republic of China .It was owned by the Taiwan Provincial Government before its downsizing on December 21, 1998, when it was transferred to the jurisdiction of the Executive Yuan....
, the Export-Import Bank of China, BankTaiwan Securities and BankTaiwan Life Insurance.
Founded in 2007 and commenced in 2008 through the legislative approval of the merger, it is the largest financial institution in Taiwan. Today the Group is the 18th largest financial institution in Asia and 89th largest in the world with assets of NT$ 5,458.59 billion and net worth of NT$ 373.17 billion as of March, 2008.
History
- In January 2008, the Bank of Taiwan became part of the Taiwan Financial Holdings Co., Ltd.(臺灣金融控股公司), which was resulted in the merger of the Bank of TaiwanBank of TaiwanThe Bank of Taiwan is a bank headquartered in Taipei, Republic of China . It is administered and owned by the Executive Yuan of the Republic of China.-History:...
(台灣銀行), Land Bank of TaiwanLand Bank of TaiwanLand Bank of Taiwan is a wholly state-owned bank of the Republic of China .It was owned by the Taiwan Provincial Government before its downsizing on December 21, 1998, when it was transferred to the jurisdiction of the Executive Yuan....
(台灣土地銀行), The Export-Import Bank of China (中國輸出入銀行), BankTaiwan Securities and BankTaiwan Life Insurance. This is now Taiwan's largest financial institution. The merger was filed report in accordance with the Fair Trade Law.
- On June 28, 2008, the Government of Taiwan approved a draft law which allowed Taiwan Financial Holdings to acquire other financial companies. The Government also approved the withdrawal of Export-Import Bank of China from the holding company.
- On July 21, 2008, the Government of Taiwan planned of a future release of 20% stake in the state-owned Taiwan Financial Holdings to foreign strategic partners and allowed them to join the company's board of directors. This will be effective once the ratification of the draft Statute for Taiwan Financial Holdings has been complete, scheduled on September 2008.
Merger and acquisitions
In 2008, the merger of the banks and financial institutions Bank of Taiwan, Land Bank of Taiwan, The Export-Import Bank of China, BankTaiwan Securities and BankTaiwan Life Insurance formed Taiwan Financial Holding Group (臺灣金融控股公司).Taiwan Financial Holdings Co. Ltd. filed a merger report in accordance with the Fair Trade Law under Article 6, 11 and 12. The merger report concluded that this will result in the possession of more than 15% of the deposit and loan market and there is no obvious danger of restriction on market competition. The report concluded that the meeting on October 4, 2007 decided the benefits brought by the merger outweigh the negative.
Subsidiaries
- Asia Pacific
- Bank of TaiwanBank of TaiwanThe Bank of Taiwan is a bank headquartered in Taipei, Republic of China . It is administered and owned by the Executive Yuan of the Republic of China.-History:...
(台灣銀行) - Land Bank of TaiwanLand Bank of TaiwanLand Bank of Taiwan is a wholly state-owned bank of the Republic of China .It was owned by the Taiwan Provincial Government before its downsizing on December 21, 1998, when it was transferred to the jurisdiction of the Executive Yuan....
(台灣土地銀行) - Export-Import Bank of China (中國輸出入銀行)
- BankTaiwan Securities (臺銀證券)
- BankTaiwan Life Insurance (臺銀人壽)
- Bank of Taiwan
See also
- List of banks in Taiwan
- Republic of ChinaRepublic of ChinaThe Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
- Economy of TaiwanEconomy of TaiwanTaiwan has a developed capitalist economy that ranks as the 19th largest in the world by Purchasing power parity and 24th in nominal GDP of investment and foreign trade by the Republic of China government which governs Taiwan. In keeping with this trend, most large government-owned banks and...
- List of companies of Taiwan