Fubon Financial

Fubon Bank (China) Obtains RMB Service License to Citizens in China Waitan Sub-branch Opens for Business

2017.04.25

The Only Fully Licensed Taiwanese-funded Bank in China

Strategically Positioned for Refined Financial Services and Localization

Fubon Bank (China) announced today (25th) that it has been awarded the license to perform RMB services to residents in China, which makes it the first Taiwanese-funded bank able to provide RMB services to citizens in China, and the first Taiwanese-funded bank to be fully licensed in China. Meanwhile, the Shanghai Waitan Sub-branch began operation on the same day, bringing total branch count of Fubon Bank (China) to 24 (including the approved Wuhan Branch). In the future, Fubon Bank (China) will hasten its localization progress to bring to its customers the most refined financial services.

The opening ceremony of Shanhai Waitan Sub-branch today was hosted by Fubon Bank (China) Chairman Pei-Li Hong and Fubon Bank (China) President Dennis Chan. Meanwhile, representatives from Taiwan Affairs Office Huangpu District and Shanghai Association of Taiwan were also invited to participate in the opening ceremony.

Pei-Li Hong said that Fubon Bank (China) has been founded with the mission of "Serving Taiwanese enterprises in cross-strait business," and with the support of resources from Fubon Financial Holdings and the vast number of Taiwanese enterprises operating in China, the bank has played an important role of connecting capital flow between Taiwan, China and Hong Kong. Fubon Bank (China) also adheres to the "localization" strategy to actively serve its local customers. It currently operates a service network that covers Yangtze River Delta, Pearl River Delta, the coastal area along Bohai Sea, and Western China, which makes it the Taiwanese bank with the highest number of service locations in China. This local RMB service license will enable Fubon Bank (China) to introduce more of Fubon Group's extensive financial experience, business ideals, and fine services to customers in China, and thereby facilitate more productive exchange of economic and financial activities.

Dennis Chan said that Fubon Bank (China) has been operating in China for 20 years and has developed a thorough understanding of the local financial needs. Becoming the first and only Taiwanese-funded bank to be awarded the license to provide RMB service to citizens in China shows just how determined and committed Fubon Bank (China) is to serve the local market over the long run! Fubon Financial Holding is the only Taiwanese financial institution that operates subsidiary banks in Taiwan, China and Hong Kong. Fubon Bank (China) will be working closely with the parent company to introduce Taiwan's renowned financial profession into China, so that a greater number of local customers may have the opportunity to experience high-quality and refined financial services.

Waitan is the birthplace of modernized banking in China, and houses the finest collection of lifestyle, culture, landmark and fashion in Shanghai. These are the reasons that motivate Fubon Bank (China) to establish a sub-branch here to serve more customers. The Waitan Sub-branch is located at one of the oldest buildings in history, the place where the first Chinese bank - The Imperial Bank of China - was founded. The decision to create a branch at a location so rich in history conveys the bank's goal to position itself as the leader in refined financial services. To accommodate the lifestyle at the Waitan area, the Waitan Sub-branch will be extending business hours to 20:00 on weekdays and remain open throughout weekends, so that customers may enjoy the exquisite services that Fubon Bank (China) has to offer without being constrained by normal banking hours.

In addition, the cross-business collaboration model that Fubon Bank (China) is renowned for will also be introduced to the Waitan Sub-branch. To match the rich culture of the Waitan area, the Waitan Sub-branch will present itself as a reading place enriched by history. Unlike conventional banks, the Waitan Sub-branch not only provides exclusive one-on-one wealth management service for high net worth customers, but also creates a place of knowledge where customers can experience unique and refined services through private events.

Fubon Bank (China) was the first commercial bank jointed funded by Chinese and Taiwanese investors. It commenced operation in New Pudong District, Shanghai, in June 1997. In October 2016, Fubon Bank (China) became a 100%-owned subsidiary of Fubon Financial Holdings. Fubon Bank (China) has been founded with the mission of "Serving Taiwanese enterprises in cross-strait business," and given the vast number of Taiwanese enterprises operating in China, the bank has played an important role of connecting capital flow between Taiwan, China and Hong Kong. Fubon Bank (China) operates a network of 24 service locations spread throughout areas where Taiwanese enterprises are clustered. This network covers several cities including: Shanghai, Beijing, Tianjin, Shenzhen, Namjing, Suzhou, Kunshan, Chengdu, and Wuhan (in preparation).