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2412 - Chunghwa Telecom Co News Story

TWD111 -1.0  -0.9%

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Sector
Telecoms
Size
Large Cap
Market Cap £22.25bn
Enterprise Value £22.59bn
Revenue £5.32bn
Position in Universe 72nd / 6085

Taiwan issues island's first virtual bank licences

Tue 30th July, 2019 9:50am
TAIPEI, July 30 (Reuters) - Taiwan issued its first virtual
banking licences to three consortiums consisting of Taiwan and
Japanese investors, its financial authorities said on Tuesday,
following moves by regulators in other Asian markets to issue
such licences.
    The island's Financial Supervisory Commission said the 
digital banking licences were granted to LINE Financial Taiwan,
which was led by Japanese app operator LINE Group  3938.T , and 
Next Commercial Bank, led by Taiwan telecom operator Chunghwa
Telecom  2412.TW .
    Another licence was granted to Rakuten International
Commercial Bank, which was operated by Japanese e-commerce firm
Rakuten Inc  4755.T  and Taiwan's IBF Financial Holdings
 2889.TW .
     Asia's internet firms are challenging the region's
traditional banks for consumer finances, tapping their massive
user networks for business.  urn:newsml:reuters.com:*:nL3N21R10B

 (Reporting By Emily Chan and Yimou Lee; editing by Gopakumar
Warrier)
 ((yimou.lee@thomsonreuters.com; +886-909-894-919; Reuters
Messaging: yimou.lee.reuters.com@reuters.net / Twitter: https://twitter.com/YimouLee))
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