10.26.2001
Taishin and Dah An tie the knot

• Taishin International announced yesterday a plan to merge with Dah An Commercial Bank (2829.TT). The share swap ratio will be finalized next month. Two other subsidiaries under Taishin, Taiwan Securities (6010.TT) and Taishin Bills Finance (unlisted), will be absorbed in the second phase. The resultant FHC will have capitalization of NT$50bn and 130 branches. For banking operations, Taishin’s loan market share will jump to 2.6% from current 1.4%. We believe Taishin will continue to evaluate suitable merger candidates to further strengthen its banking operations in future.