The Financial Supervisory Commission (hereinafter referred to as FSC) granted approval to Taiwan Cooperative Bank to file an application to the competent authority of Japan for the establishment of its Tokyo Branch.
Considering Japan is one of the major economies that has intensive bilateral trade relations with Taiwan, and responding to the regionalization of global supply chains, Taiwan Cooperative Bank plans to set up the Tokyo Branch to expand its financial services to Northeast Asia and gradually establish a comprehensive overseas service network.
As of the end of December 2023, Taiwan Cooperative Bank has 26 overseas presences included 1 subsidiary, 14 branches, 8 sub-branches, and 3 representative offices, which were set up in Belgium, Czechia, the Philippines, the United States, Hong Kong, Mainland China, Australia, Cambodia, Laos, and Myanmar.
The FSC stated that 8 Taiwanese banks have set up branch institutions in Japan. They include the Bank of Taiwan, First Commercial Bank, Chang Hwa Commercial Bank, Mega International Commercial Bank, Taiwan Business Bank, E.SUN Commercial Bank, Taishin International Commercial Bank, and CTBC Bank.