By: Tien Yu-bin and Elaine Hou
Taipei, July 25 (CNA) Taipei-based Chang Hwa Bank is poised to open a new branch in the Philippines and an office in Myanmar later this year, as part of an ongoing plan to expand its overseas presence.
The bank, one of the major commercial banks in Taiwan, said the Philippine government has approved its application to open a branch in Manila. It hopes that the new branch will be able to start operations by the end of the year.
The bank is looking to capitalize on fast economic growth in the Philippines and the Philippine government policies designed to improve the investment environment there, it said. [FULL STORY]