TAIPEI (TVBS News) — CTBC Financial Holding Co., Ltd. (中信金控) announced on Tuesday (Aug. 20) its board's decision to apply to the Financial Supervisory Commission (FSC, 金管會) for investing in Shin Kong Financial Holding (新光金控). This move highlights the company's strategic efforts to expand its financial footprint.
CTBC Financial stated it would make further announcements upon receiving regulatory approval. However, Shin Kong Financial responded that it was unaware of CTBC's plans and thus unable to comment.
The FSC previously confirmed that top executives from Taishin Holdings (台新金控) and Shin Kong Financial met with Banking Bureau Director-General Chuang Hsou-yuan (莊琇媛) on Monday to discuss their merger plan. This meeting adds another layer to the ongoing consolidation talks within Taiwan's financial sector.
Market rumors suggest CTBC has persistently evaluated acquiring Shin Kong Financial. Analysts believe such a merger could significantly alter Taiwan's financial landscape. If Shin Kong merges with Taishin Holdings, it will become the fourth-largest financial holding company. However, a merger with CTBC could elevate the combined entity to the top position.