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FSC approves 3 Taiwanese banks to set up branches in Myanmar
Central News Agency
2014-06-24 10:09 PM
Taipei, June 24 (CNA) Taiwan's top financial regulator, the Financial Supervisory Commission (FSC), approved Tuesday three local banks' applications to open branches in Myanmar. First Commercial Bank, E. Sun Commercial Bank and Cathay United Bank's applications to set up branches in Yangon, the country's largest city, have been approved, the FSC said, adding that this will allow them to capitalize on Myanmar's recent opening to foreign banks. More than 60 foreign banks are waiting to set up branches there, the FSC said. It said local banks' foreign branches help create more business opportunities and serve Taiwanese businesspeople overseas. (By Constant Wu and Elaine Hou)
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