Taiwan Financial Holdings Group

Infobox_Company
company_name = Taiwan Financial Holding Group
(臺灣金融控股公司)
company_
company_type = State-owned
company_slogan =
foundation = Taiwan 2007/12/6 approved
2008/1/1 business commenced [ [http://www.fscey.gov.tw/competitive/Eng/3.1.1.doc Financial Holdings Companies in Taiwan] ]
location = flagicon|TWN Taipei, Taiwan
key_people =
area_served = flagicon|USA USA
flagicon|United Kingdom United Kingdom
flagicon| Singapore Singapore
flagicon|Japan Japan
flagicon|South Africa South Africa
flagicon|Hong Kong Hong Kong
flagicon|China China
num_employees = 14,475 (30 June 2008) [ [http://www.twfhc.com.tw/150/Documents/FinancialReport_97Q2.pdf Taiwan Financial Holdings Group & Subsidiaries Combined Quarterly Financial Report 2008 Q2] ]
industry = Banking
products = Financial Services
assets = profit NT$ 5,480.60 billion (2008) [ [http://www.twfhc.com.tw/150/Documents/FinancialReport_97Q2.pdf Taiwan Financial Holdings Group & Subsidiaries Combined Quarterly Financial Report 2008 Q2] ]
revenue =
subsid = Bank of Taiwan (台灣銀行), Land Bank of Taiwan (台灣土地銀行), The 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), and Central Trust of China (中央信託局)
homepage = [http://www.twfhc.com.tw www.twfhc.com.tw]

The Taiwan Financial Holding Group (臺灣金融控股公司) is a Taiwan-based stated-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 [ [http://goliath.ecnext.com/coms2/gi_0199-7326831/TAIWAN-FINANCIAL-HOLDING-CO-TO.html TAIWAN FINANCIAL HOLDING CO. TO BE INAUGURATED JAN 1, 2008] ] with assets of NT$ 5,458.59 billion and net worth of NT$ 373.17 billion as of March, 2008. [ [http://www.fscey.gov.tw/competitive/Eng/3.1.1.doc Financial Holdings Companies in Taiwan] ]

History

*In January 2008, the Bank became part of the Taiwan Financial Holding Group (臺灣金融控股公司), which was resulted in the merger of the Bank of Taiwan (台灣銀行), Land Bank of Taiwan (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. [http://www.taipeitimes.com/News/front/archives/2007/08/16/2003374411] This is now Taiwan's largest financial institution. The merger was filed report in accordance with the Fair Trade Law. [ [http://www.apeccp.org.tw/doc/Taipei/Case/dec2008/982case02-830.html Bank of Taiwan, Land Bank of Taiwan and The Export-Import Bank of ROC] ]

*On June 28, 2008, the Government of Taiwan approved a draft law which allowed Taiwan Financial Holdings Group to acquire other financial companies. The Government also approved the withdrawal of Export-Import Bank of China (中國輸出入銀行) from the holding company. [ [http://www.chinapost.com.tw/business/asia/%20taiwan/2008/06/28/163014/Taiwan-Financial.htm Taiwan Financial Holding to seek takeovers] ] [ [http://www.chinapost.com.tw/business/asia/%20taiwan/2008/06/28/163014/Taiwan-Financial.htm Taiwan Financial Holding to seek takeovers Taiwan Financial Holding to seek takeovers] ]

*On July 21, 2008, the Government of Taiwan planned of a future release of 20% stake in the state-owned Taiwan Financial Holding to foreign strategic partners and allowed them to join the company`s board of directors. This will be effective once the the ratification of the draft Statute for Taiwan Financial Holding has been complete, scheduled on September 2008. [ [http://cens.com.tw/cens/html/en/news/news_inner_24090.html Taiwan Financial Holding Will Seek Foreign Strategic Partners] ]

Merger and Acquisitions

In 2008, the merger of the banks and financial institutions Bank of Taiwan (台灣銀行), Land Bank of Taiwan (台灣土地銀行), The Export-Import Bank of China (中國輸出入銀行), BankTaiwan Securities (臺銀證券) and BankTaiwan Life Insurance (臺銀人壽) 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. [ [http://www.apeccp.org.tw/doc/Taipei/Case/dec2008/982case02-830.html Bank of Taiwan, Land Bank of Taiwan and The Export-Import Bank of ROC] ]

ubsidiaries

*Asia Pacific
**flagicon|Taiwan Bank of Taiwan (台灣銀行)
**flagicon|Taiwan Land Bank of Taiwan (台灣土地銀行)
**flagicon|Taiwan Export-Import Bank of China (中國輸出入銀行)
**flagicon|Taiwan BankTaiwan Securities (臺銀證券)
**flagicon|Taiwan BankTaiwan Life Insurance (臺銀人壽)

ee also

*List of banks in Taiwan
*Republic of China
*Economy of Taiwan
*List of companies of Taiwan

References

External links

* [http://www.twfhc.com.tw Taiwan Financial Holdings Group (臺灣金控)] zh-tw
** [http://www.bot.com.tw/ Bank of Taiwan (臺灣銀行)] zh-tw
** [http://www.landbank.com.tw/ Land Bank of Taiwan (臺灣土地銀行)] zh-tw
** [http://www.twfhcsec.com.tw/ BankTaiwan Securities (臺銀證券)] zh-tw
** [http://www.twfhclife.com.tw/ BankTaiwan Life Insurance (臺銀人壽)] zh-tw