A banking unit of Taiwan's Yuanta Financial Holding, Yuanta Commercial Bank, is to purchase South Korea's Yuanta 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 Hanshin Savings 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.