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ONLINE lender Asialink Finance Corp. has secured P1 billion in funding from Yuanta Savings Bank Philippines Inc. and state-owned Small Business Corp. (SB Corp) for lending to small and medium-sized enterprises (SMEs).
Eleven domestic financial institutions have registered as members of a new over-the-counter (OTC) derivatives clearing business that the Taiwan Futures Exchange (TAIFEX) launched on Monday last week to bolster the resilience of the financial system and align with international supervision trends, the exchange said. The 11 financial institutions are CTBC Bank (中信銀行), Yuanta Commercial Bank (元大銀行), Taipei Fubon Commercial Bank (台北富邦銀行), Bank SinoPac (永豐銀行), SinoPac Securities Co (永豐金證券), E.Sun Commercial Bank (玉山銀行), Taiwan Cooperative Bank (合庫銀行), Cathay United Bank (國泰世華銀行), Chang Hwa Commercial Bank (彰化銀行), Shin Kong Commercial Bank (新光銀行) and Bank of Taiwan (臺灣銀行), the exchange said. Over-the-counter transactions are deals
The Ministry of Economic Affairs yesterday launched a green energy leasing project to help small businesses and commercial building owners access renewable energy more easily. Cathay Life Insurance Co (國泰人壽) and Shin Kong Life Insurance Co (新光人壽), two of the nation’s largest office landlords, support the government’s green energy initiatives and are signing agreements with private energy suppliers to buy green energy or renewable energy certificates (RECs), the ministry said. The insurers plan to lease the renewable energy they procure to companies renting their office buildings in Taipei’s downtown areas. Private energy suppliers are to start supplying renewable power next quarter at
Fubon Financial Holding Co(富邦金控) yesterday said it has reached an initial consensus with the labor union of Jih Sun International Bank (日盛銀行), promising that it would not dismiss any bank employees in the next three years. Fubon Financial acquired the bank’s parent company, Jih Sun Financial Holding Co (日盛金控), earlier this year and it had held talks with the bank’s labor union and Jih Sun Financial’s labor union separately. None of the more than 1,000 employees of Jih Sun Bank would be sacked in the next three years after the acquisition, while those who are eligible to retire and apply to do
Local banks’ combined lending and investment in China as of the end of June fell 6.4 percent to NT$1.46 trillion (US$52.3 billion) from NT$1.56 trillion a year earlier, Financial Supervisory Commission (FSC) data showed on Friday. Bank of Taiwan (臺灣銀行) lowered its exposure to China to NT$50 billion from NT$81 billion a year earlier, the largest cut among all Taiwanese banks, pushing down its ratio of exposure to China from 22 percent a year earlier to 13 percent, the data showed. The seven other state-run banks also slashed their exposure to the country. Mega International Commercial Bank (兆豐銀行) reduced its exposure by NT$20