Major state-run financial holding companies yesterday formalized leadership reshuffles, and shareholders approved their dividend proposals.
Taiwan Cooperative Financial Holding Co (合庫金控) chairman Lei Chung-dar (雷仲達) yesterday morning hosted the group’s annual shareholders’ meeting for the last time and assumed the leadership at Mega Financial Holding Co (兆豐金控) in the afternoon.
The Ministry of Finance tapped Lei to fill the vacancy after Michael Chang (張兆順) resigned last month to join the board of Win Semiconductors Corp (穩懋半導體).
Lei said Mega Financial has proved to be the most profitable among state-run financial conglomerates, backed by robust foreign currency transactions and bills financing.
Aside from solidifying Mega Financial’s foundation, he said he would seek to expand its income sources, business footprint and asset size.
Lei said that he would adopt the same philosophy he used at Taiwan Cooperative Financial in the past five years and seven months to find Mega Financial’s niche and bolster its competitiveness.
Taiwan Cooperative Financial has had impressive showings in land financing, commercial banking and trust business, Lei said.
Lei’s appointment to Mega Financial was earlier delayed by malpractices on the part of its asset management subsidiary.
State-run lender Taiwan Business Bank (TBB, 台企銀) chairman Lin Chien-hao (林謙浩) yesterday took over Lei’s position at Taiwan Cooperative Financial, while Export-Import Bank (輸出入銀行) chairwoman Liu Pei-jean (劉佩真) filled Lin’s vacancy at TBB.
Liu said she is seeking to grow TBB’s profit contributions from overseas operations while consolidating its competitiveness in loans to small and medium-sized enterprises.
Earlier yesterday, Mega Financial shareholders approved a proposal to distribute a cash dividend of NT$1.24 and stock dividend of 0.8 percent per share based on last year’s earnings.
Likewise, shareholders at Taiwan Cooperative Financial gave the green light to plans to distribute a cash dividend of NT$0.5 and stock dividend of 0.5 percent per share.
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