Taipei Fubon Commercial Bank’s (台北富邦銀行) board of directors yesterday approved a proposal to increase investment in the Web-only Line Bank Taiwan Ltd (連線商業銀行) by NT$2.195 billion (US$73.88 million), which is expected to raise its stake in the virtual bank from 25.1 percent to 27.18 percent.
Taipei Fubon would remain the second-largest shareholder in Line Bank after Line Financial Taiwan Corp (台灣連線金融科技), which holds a 49.9 percent stake.
Taipei Fubon’s decision came as Line Bank seeks to increase its paid-in capital by NT$7.5 billion after its accumulated pretax losses approached one-third of its paid-in capital of NT$10 billion.
Line Bank plans to first reduce
Standard Chartered Bank (Taiwan) Ltd (渣打國際商業銀行) yesterday announced that it has partnered with PChome Online Inc (網路家庭) to offer loans to the e-commerce platform’s about 10,000 suppliers to meet their financial needs.
The collaboration came as a surprise in light of PChome’s cooperation with Citibank Taiwan Ltd (花旗台灣) and E.Sun Commercial Bank (玉山銀行) in issuing co-branded credit cards.
Standard Chartered said that it is not planning to launch a credit card with PChome, as the local credit card market is already intensely competitive, but would rather focus on lending to e-commerce retailers.
E-commerce retailers are usually overlooked, as banks prefer their brick-and-mortar counterparts,
EQUITIES
<strong>Foreigners buy NT$30.78bn</strong>
Foreign investors last week bought a net NT$30.78 billion (US$1.11 billion) of local shares after buying a net NT$30.69 billion the previous week, the Taiwan Stock Exchange said in a statement yesterday. As of Friday, foreign investors had sold an accumulated NT$479.48 billion of local shares since the beginning of the year, it said. Last week, the top three shares bought by foreign investors were Tatung Co (大同), Innolux Corp (群創) and AU Optronics Corp (友達光電), while the top three sold were China Steel Corp (中鋼), Compal Electronics Inc (仁寶電腦) and Taiwan Business Bank (台灣企銀), the exchange said.
Taipei Fubon bank signs 20-year solar power deal taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
E.Sun Commercial Bank (玉山銀行) and HSBC Bank Taiwan Ltd (匯豐台灣商銀) have provided sustainability-linked loans (SLL) of NT$2 billion (US$71.9 million) and US$60 million respectively to Compal Electronics Inc (仁寶), the banks said yesterday.
The offer includes lower interest rates if the contract notebook computer maker meets environmental, social and governance (ESG) targets.
Compal has adopted a cleaner manufacturing process, with 87 percent of its laptops receiving green-label marks, E.Sun said, adding that it would monitor Compal’s efforts to reduce greenhouse gas emissions over the next three years.
Compal plans to use the loans to reduce its carbon emissions and utility consumption, as