Cathay United Bank was established in Taiwan region in 1975 and is currently one of the six systemically important banks in Taiwan region. Cathay United Bank entered mainland China’s market and founded the Shanghai Branch in December 2010. They then successively established the Shanghai Minhang Sub-Branch, the Jiading Sub-Branch, the Shanghai Pilot Free Trade Zone Sub-Branch, the Shanghai Qingdao Sub-Branch, and the Shenzhen Branch. The service network covers the Yangtze River Delta, the pan Bohai area, and the Pearl River Delta. We have always aimed to provide services to Taiwanese invested companies and SMEs as our long-term development focus. We are committed to comprehensive transitions and upgrades in terms of our service quality, asset quantity and quality, profitability, and brand image.
With the sound external policies and environment, we have comprehensively enhanced the Bank’s overall financial service quality. After 8 years of in-depth business development, the Bank’s China branch has been transited into a subsidiary upon approval from China Banking and Insurance Regulatory Commission in June, 2018, which officially opened on September 3, 2018. Since then, the China Branch has been upgraded to the Subsidiary as an independent legal entity.
Initially, the Bank targeted corporate banking, financial trading, peer–to–peer banking, and private banking businesses. After being upgraded to an incorporated bank, the Bank can proactively develop new RMB related businesses to integrate and coordinate all business segments to continuously increase the comprehensive return and to enhance the Bank’s core competency to become a leader among Taiwanese-funded banks.
In the future, the corporate banking business of CUB (China) will focus on developing the areas and businesses that meet China’s future economic development goals. We also aim to strengthen our services for SMEs with high risk bearing capacities and eco-friendly enterprises to proactively respond to the financial policy and fulfill our corporate social responsibility. We will work even more closely with the Hong Kong Branch to offer customers diverse cross-border financial services to create a strategic win-win situation for both the Bank and its customers. Additionally, under the premise of compliance and controllable risks, we will further reinforce our collaboration with local financial institutions to play an important role in promoting RMB internationalization, to facilitate the development of the derivatives market, to provide services for mainland Chinese-funded companies to enter the international market, to seek business opportunities amid mainland China’s continuous business development outlook and to assist in building Shanghai as an international financial center.
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