Taiwan Business Bank to absorb insurance units

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20 Dec, 2018

Author Regina Liezl Gambe
Theme Banking Insurance

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.

Author
Regina Liezl Gambe
Theme
Banking Insurance