A banking unit of Taiwan's Yuanta Financial Holding, Yuanta Commercial Bank, is to purchase South Korea's Hanshin Savings Bank for KRW 135.1bn ($112m), making it the second acquisition by a Taiwanese bank in the South Korean market. This also marks the first overseas subsidiary of Yuanta Bank, with Tong Yang Savings Bank in the Philippines being acquired earlier this year; the moves are in line with Yuanta's expansion strategy.
A banking unit of Taiwan's Yuanta Financial Holding, Yuanta Commercial Bank, is to purchase South Korea's Hanshin Savings Bank for KRW 135.1bn ($112m), making it the first acquisition by a Taiwanese bank in the South Korean market. This also marks the second overseas subsidiary of Yuanta Bank, with Tong Yang Savings Bank in the Philippines being acquired earlier this year; the moves are in line with Yuanta's expansion strategy.