FOREIGN BANK IN INDIA – CHINA TRUST COMMERCIAL BANK
FOREIGN BANK IN INDIA – CHINA TRUST COMMERCIAL BANK
China Trust Commercial Bank Limited or CTCB is one of the largest private banks based in Taiwan. It is controlled by the family of Koo Chen-fu. It was established in 1966 under the name China Securities and Investment Corporation. In 1971, its name was changed to Chinatrust Investment Company Limited. In 1992, it was transformed into Chinatrust Commercial Bank. Up until 2009, the chairman of the company was Luo Lian-fu. He was succeeded in July 2009 by Michael Bernard DeNoma, the first foreigner to take up the role and manage that.
China trust Philippines Commercial Bank Corp. is a subsidiary of Chinatrust Commercial Bank Corp. of Taiwan. It is listed on the Philippine Stock Exchange, but the majority of shares are held by Chinatrust Taiwan.
The China Trust bank has subsidiaries in the Philippines, the United States, Canada, and Indonesia, foreign branch offices in Singapore, Hong Kong, India, Japan, and Vietnam, and foreign representative offices in London, Bangkok, Hanoi, Beijing, Manila, and Los Angeles also. However, there was some uncertainty surrounding this transaction, as with a public float of less than 10% of shares outstanding, Chinatrust Philippines would have to be delisted.