CTBC Financial signs another MOU with a Japanese bank

Agreement signed with ShinGinko Tokyo Ltd.

Taiwan’s CTBC Financial Holding Company said the cooperation pact with ShinGinko Tokyo will jointly deepen their presence in Japan and Southeast Asia.

ShinGinko Tokyo is the second Japanese bank to sign a memorandum of understanding with CTBC Financial, which linked-up with the Shizuoka Bank in June.

CTBC Financial the MOU will enable the two parties to better serve Japanese customers doing business in Taiwan and ASEAN markets.

Taiwan has increasingly become a springboard for Japanese firms interested in expanding in China since the Economic Cooperation Framework Agreement (ECFA) was signed in September 2010.

CTBC Bank has 147 branches in Taiwan and a subsidiary in the Philippines and another in Indonesia. It also has a branch in Shanghai and a representative office in Beijing.

ShinGinko Tokyo has a capital of US$2.07 million and is primarily engaged in savings and deposits, cash card and lending businesses.