01.10.2001
First Commercial Bank releases merger targets

First Commercial Bank (2802 ‘Yi Yin’) has decided to merge with Bank of Kaohsiung (2836 ‘Gao Xiong Yin’) and Enterprise Bank of Hualien, two regional banks in Taiwan. The merger may allow First Commercial Bank to strengthen its business in Taiwan’s South and East areas, and may also facilitate the company’s expansion into other businesses such as securities and insurance. Further, the merger may increase the Bank of Kaohsiung’s exposure to international business. First Commercial Bank has a strong reputation and sound financial background, with a P/E of 13.35, and we expect that this counter will continue to move upward on further positive news about the merger.
William Fong