Taiwan pours fresh capital into Yuanta Savings Bank

A man opens a box with lunch in front of a monitor showing stock movements at the Taiwan Stock Exchange in Taipei. AFP

Yuanta Financial Holdings, a listed company at the Taiwan Stock Exchange with market capitalization of P336 billion, has taken active steps in strengthening and deepening its international footprints in the ASEAN.

Following the recent acquisition of a securities company in Vietnam and subsequent capital infusion, its banking subsidiary, Yuanta Commercial Bank, has also poured fresh capital into Yuanta Savings Bank Philippines, Inc. worth P1.4 billion.

In doing so, Yuanta Financial Holdings’ overseas operations in eight countries attain economies of scale capable of supporting each in terms of business development with the ultimate goal of creating a regional platform for financial services.

After the infusion, the capital of Yuanta Savings Bank Philippines stands at P2.2 billion. Its NPL ratio, 0.04 percent is also one of the lowest among banks in the Philippines.

Moving forward, Yuanta Savings Bank Philippines will continue to localize its operations and strive to provide quality and efficient banking services to its customers.