Taiwan Hua Nan Bank opens its first branch in Australia 21 February 2012 Taiwan’s fifth largest bank by tier one capital, Hua Nan Bank, opened its first Australian branch in Sydney last week. Hua Nan Bank is the fifth bank from Taiwan to establish a branch in Australia following the arrival of Mega International Commercial Bank, Taiwan Business Bank, First Commercial Bank and Taiwan Cooperative Bank. Headquartered in Taipei, Hua Nan Bank is one of the oldest banks in Taiwan operating 185 domestic branches. The Sydney branch is the bank’s ninth overseas; Hua Nan Bank has already established a presence in Los Angeles, New York, London, Hong Kong, Singapore, Ho Chi Minh City, Shenzhen (China) and Hanoi. Speaking at the opening ceremony in Sydney, Hua Nan Bank’s Chairman, Mr Ming-Cheng Lin, pointed to Australia’s sound regulatory regime and AAA-rating as compelling reasons to invest in Australia. “Hua Nan Bank is very privileged and honoured to now play a part in Australia’s solid banking and financial system,” Mr Lin said. In the 2010-11 financial year, Taiwan was Australia’s 10th largest merchandise trading partner and its 5th largest merchandise export market. Hua Nan Bank’s presence in Australia will support this relationship and facilitate trade and investment flows between Australia and Taiwan. Hua Nan Bank is one of several foreign banks whose recent expansion into Australia was assisted by Austrade, in partnership with the NSW Government. More information |