TCB the Second Largest Bank in Taiwan Opens Sydney Branch
Sydney, NSW – (News4us.com) October 03, 2011
Sydney City has once again proven itself as Australia’s finance capital; with the Taiwan Cooperative Bank choosing it as home for its first Australian branch.
The Taiwan Cooperative Bank is the second largest bank in Taiwan and expected to invest $40 million over the next five years into the local economy.
Sydney has long been seen as a leading financial services hub in the Asia Pacific and a close stepping stone to the Asian continent.
With over 8,000 staff and three hundred branches the Taiwan Cooperative Bank has been headquartered in Taipei since 1946.
It is the 160th largest bank in the world by asset size, with international representation in the Philippines, the USA, Hong Kong, Belgium and China.
The TCB Sydney branch will spur trade and investment between the two countries through trade financing, foreign exchange trade and other commercial services.
Two other Taiwanese banks are already established in Sydney paving the way for further entry for other esteemed financial Asian counterparts.
The International Commercial Bank and the Taiwan Business Bank both established for some time in Sydney welcome this new financial participant.
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