Hua Nan inks deal with China Merchants Bank

The Taiwanese bank seeks to benefit from MOU with the Chinese bank to expand its operations in the Mainland.

Taiwan's Hua Nan Bank, a subsidiary of Hua Nan Financial Holdings, signed a memorandum of understanding (MOU) with China Merchants Bank on Friday for further cooperation. 

Under the MOU, the two banks will build partnerships in financial businesses, trade finance, establishment of for-profit organizations, and staff exchanges, Hua Nan said. 

Hua Nan opened its Shenzhen branch in Guangdong Province in January this year. Running short of operation bases in China, Hua Nan is seeking to develop cooperation with Chinese financial groups to expand operations. 

Hua Nan hopes to benefit from its partnership with China Merchants Bank, which has 73 branches and 749 sub-branches in China, most of which are located in relatively rich areas such as the Changjiang Delta, Zhujiang Delta and Bohai Economic Rim. 

View the full story in Focus Taiwan.