Standard Chartered, Taiwan's Hsinchu Intl to complete integration in early H2 |
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Published
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Wed, 28 Mar 2007 04:40
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TAIPEI (XFN-ASIA) - Standard Chartered said the integration of its Taiwan operations and those of its 98.5 pct owned Hsinchu International Bank is anticipated to be completed in the early part of the second half of 2007.'The effective date of the operations' integration is seen in the early second half, likely in July,' a Standard Chartered Bank Taiwan official said.Hsinchu International Bank, which Standard Chartered recently acquired, will be renamed Standard Chartered Bank (Taiwan) Limited, pending approvals by Hsinchu International Bank's shareholders at an annual general meeting on May 21, and by regulators, Standard Chartered said in a statement.The new name will take effect also in the early part of the second half of this year.'We create synergy by bringing together Hsinchu's branches with Standard Chartered's international experience and that gives us a solid foundation for growth,' Standard Chartered Group executive director Kai Nargolwala was quoted in the statement as saying.Standard Chartered Bank owns three branches, while Hsinch International Bank has 83 branches in Taiwan.adela.lin@afxasia.comal/net
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