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CTBC Holding gets a foothold in Okinawa

TAIPEI, Taiwan -- CTBC Financial Holding Co. (CTBC Holding,中信金控) recently struck a partnership deal with Bank of the Ryukyus and the Bank of Okinawa, agreeing to jointly provide financial and advisory services based on respective banking networks.

Earlier this week, CTBC announced that is has signed memorandums of understanding (MOU) with Bank of the Ryukus and Bank of Okinawa. CTBC Holding President Daniel Wu (吳一揆) said that the two MOUs mark the 16th and 17th partnership deals that have been struck with Japanese counterparts since last June.

According to Wu, the MOU signed by Taiwan and Japan's authorities to cooperate on financial supervision last November presaged growing demand for financial services and tighter cooperation between the banking industries of both sides.

Wu stated that CTBC Holding will go hand in hand with its two Okinawan peers to provide comprehensive personal and corporate banking services.

Wu added that CTBC Holding plans to restructure recent acquisition Tokyo Star Bank in the next three years.

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