CTBC FinancialHolding Co. Ltd. said March 29 that the board of unit approved changing thename of its Chinese subsidiary,CITIC Bank International (China) Ltd.,to CTBC Bank (China) Ltd.
CTBC Bank will also restructure its existing branches and subbranchesin China as those of CTBC Bank (China). The headquarters of CTBC Bank (China) willremain in Shenzhen.
The Taiwanese bank's Beijing representative office and CITICBank (International) China's Shanghai branch will be dissolved.
The plans are subject to approval from regulators in Taiwan andChina.