Two companies under the Shin Kong Group -- Taishin Financial Holding Co (台新金控) and Shin Kong Financial Holding Co (新光金控) -- announced plans to merge yesterday, saying their combined assets will boost competitiveness.
"Both sides have expressed a willingness to merge -- a move that will create an entity with combined assets of about NT$1 trillion," Thomas Wu (
"It will be a merger of equals, with each accounting for NT$500 billion in assets."
The marriage will help enhance the cross-selling of financial products among the units under the combined entity, he said.
The merged company -- which will incorporate banks, insurance companies, security houses and bond underwriters -- will retain the name Taishin Financial Holding Co, Wu said.
After the merger, the new company will have around 9.7 million customers and more than 580 outlets nationwide. Currently, Taishin International Bank (
SELL-OFF: Investors expect tariff-driven volatility as the local boarse reopens today, while analysts say government support and solid fundamentals would steady sentiment Local investors are bracing for a sharp market downturn today as the nation’s financial markets resume trading following a two-day closure for national holidays before the weekend, with sentiment rattled by US President Donald Trump’s sweeping tariff announcement. Trump’s unveiling of new “reciprocal tariffs” on Wednesday triggered a sell-off in global markets, with the FTSE Taiwan Index Futures — a benchmark for Taiwanese equities traded in Singapore — tumbling 9.2 percent over the past two sessions. Meanwhile, the American depositary receipts (ADRs) of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the most heavily weighted stock on the TAIEX, plunged 13.8 percent in
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