Tai­wan, China banks sign MoU

The Pak Banker - - Front Page -

TAIPEI: Tai­wan Co­op­er­a­tive Bank signed a mem­o­ran­dum of un­der­stand­ing with Bank of China Tues­day on part­ner­ship in a wide range of ser­vices. Un­der the "com­pre­hen­sive busi­ness co­op­er­a­tion" agree­ment, the two banks are ex­pected to work to­gether to of­fer ser­vices such as set­tle­ments, trade fi­nanc­ing, project loans, syn­di­ca­tion loans, in­ter­bank lend­ing, risk man­age­ment and loans for small and medi­um­sized en­ter­prises. The MOU was signed in Bei­jing by the pres­i­dents of the two banks, Tsai Chiu-jung of Tai­wan Co­op­er­a­tive Bank and Li Li­hui of Bank of China. In a state­ment, Tai­wan Co­op­er­a­tive Bank noted that Bank of China is the most in­ter­na­tion­al­ized fi­nan­cial in­sti­tu­tion in China and said that through part­ner­ship, two banks will help each other to de­velop their busi­ness in the greater China area. At a news con­fer­ence held at the Tai­wan Stock Ex­change, Hsieh Chung-dea, ex­ec­u­tive vice pres­i­dent of lo­cal bank, told re­porters that his bank is sched­uled to open a branch in Suzhou in China's Jiangsu Prov­ince Wed­nes­day, fol­low­ing the sign­ing of the MOU. Hsieh said Suzhou branch will tar­get Tai­wanese com­pa­nies op­er­at­ing in Suzhou and neigh­bor­ing ar­eas of Kun­shan, Shang­hai and Hangzhou. -PB News

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