Cathay United Bank (Chinese: 國泰世華銀行; pinyin: Guótài Shìhuá Yínháng) is one of the largest commercial banks in Taiwan, with a capital value of TW$67 billion (approximately US$2.23 billion) and more than 165 branches located throughout Taiwan. It is part of Cathay Financial Holdings.
Cathay United Bank was formerly the United World Chinese Commercial Bank (UWCCB; Chinese: 世華聯合商業銀行), which was founded in 1975.
In 2003, UWCCB was merged with the former Cathay Commercial Bank, a wholly owned subsidiary of Cathay Financial Holding Company; UWCCB was the surviving bank but the merged bank was renamed to Cathay United Bank.
In September 2012 Cathay United Bank with the National Bank of Cambodia's approval, acquired a 70% stake in Singapore Banking Corporation (SBC).[1] SBC was founded in 1993 and has 6 branches and 10 exchange offices in Cambodia. A year later in September 2013, Cathay United Bank reached an agreement with the remaining shareholders of SBC to acquire the remaining 30% shares. In January 2014, the name was changed to Cathay United Bank Cambodia (CUBC).
To expand its banking operations in Asia, in December 2014, CUB through its sister company and life insurance arm of Cathay Financial Holding, Cathay Life Insurance, acquired a 22% share (approximately US$179 million) of Philippines' Rizal Commercial Banking Corp (RCBC).[2] RCBC is owned by the Yuchengco Group and is the country's eighth largest lender with a consolidated branch network of over 430 branches. Rizal Commercial Banking Corp is connected with the $81m Bangladesh Bank heist. As a result, the bank's president resigned in May 2016.[3]
In January 2015, Cathay Life Insurance announced a plan to acquire 40% of Indonesia's PT Bank Mayapada for approximately US$272 million.[4] Bank Mayapada, founded in 1989, is a mid-sized commercial bank focused on corporate lending with 175 branches and offices and owned by Indonesian billionaire Dato Sri Tahir.
In May 2017, Cathay United Bank and its sister company Cathay Life agreed to purchase the Bank of Nova Scotia Berhad Malaysia from Scotiabank. The acquisition is subject to regulatory approval by Bank Negara Malaysia.[5]
Currently Cathay United Bank has 9 overseas branches and sub-branches as well 6 marketing and representative offices, including one agency, located in countries such as China, Hong Kong, Singapore, Malaysia, Vietnam and Cambodia. The Hong Kong and Shanghai branches focus mainly on Greater China, while the Singapore branch is very active in the ASEAN local foreign exchange and money markets and is a major investor in Southeast Asian investment grade credits.
Mainland Chinaedit
A Subsidiary Bank was formally opened in September 2018
Shanghai Branch
Shanghai Minhang Sub-branch
Shanghai Pilot Free Trade Zone Sub-Branch
Shanghai Jiading Sub-Branch
Qingdao Branch
Shenzhen Branch
Cambodiaedit
PhnomPenh Branch (10 Different branches)
Head Office (St. Somdach Pan)
Nehru
Mao Tse Tung
Toul Tumpoung II
Chbar Am Pov
Heng Ly
Chaom Chau
Stat Chas
Stueng Meanchey
Saen Sokh
SiemReap Branch
Sihanoukville Branch
Kampong Cham Branch
Krong Bavet Branch
Battambang Branch
Hong Kongedit
Hong Kong Branch
Indonesiaedit
Jakarta Representative Office
Laosedit
Vientiane Capital Branch
Malaysiaedit
Labuan Branch
Kuala Lumpur Marketing Office
Myanmaredit
Yangon Representative Office
Philippinesedit
Manila Branch
Singaporeedit
Singapore Branch
Thailandedit
Bangkok Representative Office
Vietnamedit
Chu Lai Branch
Hanoi Representative Office
Ho Chi Minh City Representative Office
Joint Ventures and Subsidiaryedit
Indovina Bank, Vietnam (Chinese: 世越銀行)
Cathay United Bank was the first Taiwanese bank to establish a banking presence in Vietnam. In 1990, Cathay United Bank with its local joint venture partner, Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) established Indovina Bank (IVB). Indovina Bank, headquartered in Ho Chi Minh City, is a commercial bank with 9 branches and 17 transaction offices.
^"UPDATE 1-Taiwan's Cathay Fin may raise stake in Philippine RCBC". Reuters. 17 December 2014. from the original on 2015-08-23. Retrieved 2017-06-30.
^"President of Philippine bank at center of $81 million heist quits". Reuters. 6 May 2016. Retrieved 10 May 2016.
^"Taiwan firm to buy 40% Mayapada stake for Rp 3.5t". The Jakarta Post.
^"Scotiabank in Talks With Cathay Financial to Sell Malaysia Unit". Bloomberg. March 10, 2017.
December 05, 2023
cathay, united, bank, confused, with, cathay, bank, chinese, 國泰世華銀行, pinyin, guótài, shìhuá, yínháng, largest, commercial, banks, taiwan, with, capital, value, billion, approximately, billion, more, than, branches, located, throughout, taiwan, part, cathay, fi. Not to be confused with Cathay Bank Cathay United Bank Chinese 國泰世華銀行 pinyin Guotai Shihua Yinhang is one of the largest commercial banks in Taiwan with a capital value of TW 67 billion approximately US 2 23 billion and more than 165 branches located throughout Taiwan It is part of Cathay Financial Holdings Cathay United BankTypePublic companyTraded asTWSE 2882IndustryBankingFounded4 January 1975 1975 01 04 HeadquartersTaipei TaiwanNumber of locations165 branches ProductsFinancial servicesTotal equityTW 67 billion approximately US 2 23 billion ParentCathay Financial HoldingsWebsitewww wbr cathaybk wbr com wbr tw Contents 1 History 2 Overseas Branches Offices 2 1 Mainland China 2 2 Cambodia 2 3 Hong Kong 2 4 Indonesia 2 5 Laos 2 6 Malaysia 2 7 Myanmar 2 8 Philippines 2 9 Singapore 2 10 Thailand 2 11 Vietnam 3 Joint Ventures and Subsidiary 4 See also 5 ReferencesHistory editCathay United Bank was formerly the United World Chinese Commercial Bank UWCCB Chinese 世華聯合商業銀行 which was founded in 1975 In 2003 UWCCB was merged with the former Cathay Commercial Bank a wholly owned subsidiary of Cathay Financial Holding Company UWCCB was the surviving bank but the merged bank was renamed to Cathay United Bank In September 2012 Cathay United Bank with the National Bank of Cambodia s approval acquired a 70 stake in Singapore Banking Corporation SBC 1 SBC was founded in 1993 and has 6 branches and 10 exchange offices in Cambodia A year later in September 2013 Cathay United Bank reached an agreement with the remaining shareholders of SBC to acquire the remaining 30 shares In January 2014 the name was changed to Cathay United Bank Cambodia CUBC To expand its banking operations in Asia in December 2014 CUB through its sister company and life insurance arm of Cathay Financial Holding Cathay Life Insurance acquired a 22 share approximately US 179 million of Philippines Rizal Commercial Banking Corp RCBC 2 RCBC is owned by the Yuchengco Group and is the country s eighth largest lender with a consolidated branch network of over 430 branches Rizal Commercial Banking Corp is connected with the 81m Bangladesh Bank heist As a result the bank s president resigned in May 2016 3 In January 2015 Cathay Life Insurance announced a plan to acquire 40 of Indonesia s PT Bank Mayapada for approximately US 272 million 4 Bank Mayapada founded in 1989 is a mid sized commercial bank focused on corporate lending with 175 branches and offices and owned by Indonesian billionaire Dato Sri Tahir In May 2017 Cathay United Bank and its sister company Cathay Life agreed to purchase the Bank of Nova Scotia Berhad Malaysia from Scotiabank The acquisition is subject to regulatory approval by Bank Negara Malaysia 5 Overseas Branches Offices edit nbsp Cathay Financial CenterCurrently Cathay United Bank has 9 overseas branches and sub branches as well 6 marketing and representative offices including one agency located in countries such as China Hong Kong Singapore Malaysia Vietnam and Cambodia The Hong Kong and Shanghai branches focus mainly on Greater China while the Singapore branch is very active in the ASEAN local foreign exchange and money markets and is a major investor in Southeast Asian investment grade credits Mainland China edit A Subsidiary Bank was formally opened in September 2018 Shanghai Branch Shanghai Minhang Sub branch Shanghai Pilot Free Trade Zone Sub Branch Shanghai Jiading Sub Branch Qingdao Branch Shenzhen BranchCambodia edit PhnomPenh Branch 10 Different branches Head Office St Somdach Pan Nehru Mao Tse Tung Toul Tumpoung II Chbar Am Pov Heng Ly Chaom Chau Stat Chas Stueng Meanchey Saen Sokh SiemReap Branch Sihanoukville Branch Kampong Cham Branch Krong Bavet Branch Battambang BranchHong Kong edit Hong Kong BranchIndonesia edit Jakarta Representative OfficeLaos edit Vientiane Capital BranchMalaysia edit Labuan Branch Kuala Lumpur Marketing OfficeMyanmar edit Yangon Representative OfficePhilippines edit Manila BranchSingapore edit Singapore BranchThailand edit Bangkok Representative OfficeVietnam edit Chu Lai Branch Hanoi Representative Office Ho Chi Minh City Representative OfficeJoint Ventures and Subsidiary editIndovina Bank Vietnam Chinese 世越銀行 Cathay United Bank was the first Taiwanese bank to establish a banking presence in Vietnam In 1990 Cathay United Bank with its local joint venture partner Vietnam Joint Stock Commercial Bank for Industry and Trade Vietinbank established Indovina Bank IVB Indovina Bank headquartered in Ho Chi Minh City is a commercial bank with 9 branches and 17 transaction offices See also editList of banks in Taiwan Economy of Taiwan List of companies of Taiwan nbsp Banks portalReferences edit SBC to Rebrand Following Taiwan Acquisition The Cambodia Daily Archived from the original on 2017 09 04 UPDATE 1 Taiwan s Cathay Fin may raise stake in Philippine RCBC Reuters 17 December 2014 Archived from the original on 2015 08 23 Retrieved 2017 06 30 President of Philippine bank at center of 81 million heist quits Reuters 6 May 2016 Retrieved 10 May 2016 Taiwan firm to buy 40 Mayapada stake for Rp 3 5t The Jakarta Post Scotiabank in Talks With Cathay Financial to Sell Malaysia Unit Bloomberg March 10 2017 Retrieved from https en wikipedia org w index php title Cathay United Bank amp oldid 1132817468, wikipedia, wiki, book, books, library,
