The Financial Supervisory Commission (hereinafter referred to as FSC) granted approval to the Bank of Taiwan to file an application to the competent authority of Lithuania for the establishment of its Lithuania Representative Office.
    The Bank of Taiwan recognizes the recent increase in economic and trade exchanges between Taiwan and Lithuania. As Lithuania is located at the intersection between Europe and Eurasia, setting up a representative office in Lithuania helps the bank access business opportunities in the Central and Eastern European markets and expand its overseas business development.
    The Bank of Taiwan currently has 11 branches in New York, Los Angeles, Hong Kong, Tokyo, Singapore, South Africa, London, Shanghai, Guangzhou, Fuzhou, and Sydney, and 11 representative offices in Mumbai, Yangon, Silicon Valley, Bangkok, Frankfurt, Jakarta, Ho Chi Minh City, Manila, Kuala Lumpur, Phoenix, and Fukuoka.
    The FSC stated that Taiwanese banks have set up operations in Europe, including the United Kingdom, France, the Netherlands, Belgium, Germany, and Czechia, but have not yet set up presence in Lithuania. The Bank of Taiwan is the first applicant.