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Taiwan Business Bank to absorb insurance units

Taiwan Business Bank Co. Ltd. will absorb wholly owned units TBB Insurance Agency Co. Ltd. and TBB Property Insurance Agency Co. Ltd. in a merger.

The move, subject to regulatory approval, is expected to integrate the bank's resources to lower costs and boost operational efficiency, according to a Dec. 19 release.

This will consequently improve its net worth and EPS.

The proposed merger is expected to complete by April 1, 2019.