The Financial Supervisory Commission (FSC) has approved Taiwan Cooperative Bank’s request to set up a representative office in Prague, making it the second Taiwanese bank that will have a presence in the Czech city.

The representative office will help the bank seek business opportunities and enhance its quality of service in the European market, the commission said in a statement Friday.

The FSC approved a similar request by the Export-Import Bank of the Republic of China on Nov. 11, 2021.

Taiwan Cooperative Bank currently operates representative offices abroad in Beijing and Yangon, and has 13 branches overseas, including Seattle, New York, Manila, Sydney, Vientiane, and Phnom Penh.

According to the FSC, other European countries where Taiwanese banks have a market presence include the United Kingdom, France, Germany, Belgium and the Netherlands.

Source: Focus Taiwan News Channel