Mega Bank chairman satisfied with profits, sees fiscal rebound

The chairman said 28 overseas Mega Bank branches had very positive performances last year. Tsai said 13 out of 28 banks made profits of more than NT$100 million last year alone. This improved performance is a sign of a recovering economy, he said.

International Banking

Tsai said Mega Bank's net profit is somewhat lacking in terms of growth, and that the bank requires additional funds to better compete with international banks.

The chairman said Mega Bank only made a net profit of NT$200 billion last year. It requires a net profit of NT$500 billion to be upgraded to an international bank status, said the chairman.

The chairman said Taiwan's economy is forecast to enjoy GDP growth of 3.53 this year, and that though domestic investment is a driving force, consumption remains weak.

Tsai said Taiwan's banking groups should consider acquiring small investment companies to generate more profit.

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