CTBC Bank and LH Financial Group PCL (LHFG) celebrated the bank consolidating its overseas presence in becoming LHFG’s largest shareholder at Siam Kempinski Hotel in Bangkok.
CTBC Bank chairman Morris Li, CTBC President James Chen, CTBC Financial Holding Co. chief administration officer Roger Kao, CTBC Financial chief financial officer Chiu Ya-Ling and other senior management figures attended the event, along with Taipei Economic Cultural Office in Thailand Deputy Representative Hsu Wei-ming and more than 500 special guests from the Taiwanese and Thai business communities.
CTBC Bank in 2017 became an LHFG shareholder to develop its business in Thailand, and in 2021 increased its holdings to 46.6 percent of LHFG shares, making it the financial group’s largest shareholder and making LHFG a member of CTBC Financial.
In a speech, Li said he was grateful for the support of the Taiwanese and Thai governments and thanked the partners and the board of LHFG, adding that it was only through the trust they showed in CTBC that the bank was able to achieve its latest milestone.
With LHFG, CTBC now has the most branches in Thailand of any Taiwanese bank, and LHFG would be able to benefit from CTBC’s experience and presence throughout North America and Asia to further internationalize and diversify its financial services portfolio, Li said.
This would enable Taiwanese business in Thailand to enjoy access to more comprehensive financial services, while also driving LHFG’s growth, he said, adding that he believed this would help Thai financial markets thrive.
Hsu said that Thailand has been a major strategic partner in realizing Taiwan’s New Southbound Policy, adding that Taiwanese businesses developing in the Southeast Asia market rely on assistance from Taiwanese financial institutions.
Through LHFG’s service centers, CTBC can expand its financial services in Thailand and around the world, Hsu said, adding that he was honored to witness this moment and delighted to see these bridges of friendship being built between Taiwan and Thailand.