Approval of Taipei Fubon Commercial Bank's Application for the Establishment of its Sydney Branch in Australia
2023-04-20
The Financial Supervisory Commission (FSC) agreed that Taipei Fubon Commercial Bank (the Bank) may file an application to the competent authority of Australia for the establishment of its Sydney Branch in Australia.
The Bank received the FSC's approval for setting up its Sydney Representative Office in Australia on April 22, 2020. To take into account the importance of Australia’s position in the Asia-Pacific financial market, the Bank plans to upgrade its Sydney Representative Office to Sydney Branch in order to expand its global reach, continuously develop foreign-currency assets, and create new sources of revenue.
As of the end of February 2023, the Bank has set up several overseas branches, including Hong Kong Branch, Ho Chi Minh City Branch, Hanoi Branch, Binh Duong Branch, Singapore Branch, Jakarta Representative Office, Sydney Representative Office, and Fubon Bank (China).
The FSC stated that currently there are 10 Taiwanese banks with branch operations in Australia, including Bank of Taiwan, Taiwan Cooperative Bank, First Commercial Bank, Hua Nan Commercial Bank, Taipei Fubon Commercial Bank, Mega International Commercial Bank, Taiwan Business Bank, E.SUN Commercial Bank, Taishin International Commercial Bank, and CTBC Bank.
The Bank received the FSC's approval for setting up its Sydney Representative Office in Australia on April 22, 2020. To take into account the importance of Australia’s position in the Asia-Pacific financial market, the Bank plans to upgrade its Sydney Representative Office to Sydney Branch in order to expand its global reach, continuously develop foreign-currency assets, and create new sources of revenue.
As of the end of February 2023, the Bank has set up several overseas branches, including Hong Kong Branch, Ho Chi Minh City Branch, Hanoi Branch, Binh Duong Branch, Singapore Branch, Jakarta Representative Office, Sydney Representative Office, and Fubon Bank (China).
The FSC stated that currently there are 10 Taiwanese banks with branch operations in Australia, including Bank of Taiwan, Taiwan Cooperative Bank, First Commercial Bank, Hua Nan Commercial Bank, Taipei Fubon Commercial Bank, Mega International Commercial Bank, Taiwan Business Bank, E.SUN Commercial Bank, Taishin International Commercial Bank, and CTBC Bank.
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Update：
2023-05-04