The Bank of Taiwan has made its presence in the Philippines. The state-run Taiwanese bank opened its representative office in Manila after it received a license from the Bangko Sentral ng Pilipinas, the central bank of the Philippines. The bank will not be able to offer normal banking services or process transactions for clients based here. As a liaison office of the Bank of Taiwan which deals directly with the public, its function shall be limited to promoting and providing information about the services/products offered by Bank of Taiwan and shall not include those of its affiliates, the Philippine central bank said. Bank of Taiwan started operations in May 1946, making it the oldest government-owned bank in that country. The commercial lender has since expanded its operations through overseas branches and banking offices in China, Hong Kong, Singapore, Japan, Australia, United States, United Kingdom and South Africa.
