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Taiwan's Chang Hwa Commercial Bank to set up branch in Manila

Taiwan's Chang Hwa Commercial Bank Ltd. obtained approval from the Financial Supervisory Commission to set up a branch in Manila, the island's Central News Agency reported Jan. 19.

Taiwanese banks have 33 outlets in the Philippines, which generated NT$500 million in total profit in the first three quarters of 2016.

As of Jan. 19, US$1 was equivalent to NT$31.59.