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Rakuten waives non-competition clause with IBF

Rakuten waives non-competition clause with IBF
taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.

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Financial titans' profits near NT$70bn

Financial titans’ profits near NT$70bn
BULL MARKETS:
Cathay Financial Holding attributed its strong results to subsidiary Cathay Life Insurance Co, saying that the life insurer’s net income rose 181 percent
By Kao Shih-ching / Staff reporter
The nation’s 15 financial conglomerates last week reported a combined net profit of NT$69.54 billion (US$2.45 billion) for last month, up 73 percent year-on-year, as companies with life insurance arms benefited from bull stock markets, corporate data showed.
Cathay Financial Holding Co (國泰金控), the nation’s largest financial holding firm by assets, posted a record net profit of NT$21.7 billion, beating Fubon Financial Holding Co (富邦金控) to become the most profitable financial holding company, the companies’ data showed. ....

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Rakuten eyes pilot for its Web-only bank operations

Rakuten eyes pilot for its Web-only bank operations
By Kao Shih-ching / Staff reporter
Rakuten International Commercial Bank (樂天國際商銀) plans to launch a pilot for its Web-only operations by the end of next month, company chairman Chien Ming-jen (簡明仁) said on Monday.
Initially, the bank plans to provide services to its 100 employees, as well as 3,500 staff at its shareholders IBF Financial Holdings Co (國票金控) and Japanese e-commerce firm Rakuten Inc’s local unit, Chien said.
In the first phase, the bank would focus on its information systems, he said, without revealing when formal operations would begin.
Rakuten International Commercial Bank chairman Chien Ming-jen speaks at a news conference in Taipei on Nov. 5. ....

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