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Another Taiwan bank debuts in Manila

Taiwan’s Hua Nan Commercial Bank has opened a full branch in Manila. This is the bank’s 14th overseas branch. Hua Nan Commercial Bank is a subsidiary of Hua Nan Financial Holdings Co, the first company to list on Taiwan’s stock exchange. The bank is the ninth foreign bank and the fourth domiciled in Taiwan to enter the Philippine banking system under Republic Act 10641 of 2014, which allowed a new wave of foreign bank liberalization. The three other new Taiwanese banking players that have entered the local banking system since then were Cathay United Bank, Yuanta Commercial Bank Co and First Commercial Bank.

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