The Financial Supervisory Commission (hereinafter referred to as FSC) granted approval to Taipei Fubon Commercial Bank(the Bank) to file an application to the competent authority of India for the establishment of its Mumbai Branch.

The Bank planned to set up its Mumbai Branch after assessing the importance of India's position in the global market, long-term economic growth trends, and diverse opportunities in the supply chain of Taiwanese businesses and local large enterprises as well as international syndicated loans in the India market.

As of the end of January 2024, the Bank has established several overseas branches, including Hong Kong Branch, Ho Chi Minh City Branch, Hanoi Branch, Pingyang Branch, Singapore Branch, Fubon Bank (China), Jakarta Representative Office, and Sydney Representative Office.

The FSC stated that 3 Taiwanese banks have set up branches or representative offices  in India,  including CTBC Bank with 2 local branches as well as the Bank of Taiwan and Mega International Commercial Bank with 2 representative offices.