Reported 12 months ago
In the ongoing discussions about mergers in the financial sector, brothers Tsai Hong-tu, Chairman of Cathay Financial Holdings, and Tsai Chen-yu, former Vice Chairman of Cathay Financial Holdings, have expressed interest in acquiring Antai Bank and King's Bank. The General Manager of Cathay Financial Holdings, Li Chang-geng, suggested asking 'Mr. Tsai' for clearer details regarding the plans involving them. Despite recent rumors of Tsai Chen-yu considering a buyout, both banks issued statements refraining from commenting. The Financial Supervisory Commission's Banking Bureau stated no contact with Tsai Chen-yu has been made yet, emphasizing regulatory assessments for financial industry mergers or investments. Li Chang-geng also discussed global economic performance, uncertainties due to the U.S. elections affecting inflation, and the impact on hedging costs if the Federal Reserve does not cut interest rates.
Source: YAHOO