08.16.2001
Fubon to undergo corporate restructuring

• Development: Fubon will submit an application to become a Financial Holding Company (FHC) in early Nov ‘01. Currently, the group is calculating share-swap ratios for 5 subsidiaries (bank, insurance, investment trust and security companies). Fubon will consolidate customer base to facilitate cross-selling and capital efficiency.

• Analysis: Fubon has developed a clear strategy. An alliance with Citibank will help the bank explore and enter various South East Asian markets.

• Primasia View: We believe Fubon bank will benefit through successful consolidation of the group’s subsidiaries.