The Taiwan Cooperative Bank, a publicly listed bank, and The Export-Import Bank of the Republic of China, a state-owned financial institution in Taiwan, are considering setting up operations in the Czech Republic to take advantage of the growing economic interaction between both countries.
Taiwan´s Ministry of Finance has considered establishing branch offices of financial institutions in the Czech Republic to strengthen bilateral relations and to provide Taiwanese businesses with financial services. Both banks are conducting their respective evaluations by collecting local business information, intending to enter into the Central and Eastern European market through Taiwan’s banks in Europe.
Due to the current impact of the epidemic, neither bank has been able to conduct on-site business investigations. Once the pandemic situations are under control in Europe, the on-site assessments will be completed, and proposals will be submitted for approval by their respective boards. Then they must obtain the approval of the competent authorities on both sides to establish branch offices following the proscribed procedures.