November 3, 2011

Cathay Financial gets regulatory OK to set up branch in Phnom Penh


TAIPEI -- Cathay Financial Holding Co.'s (2882.TW) banking unit, Cathay United Bank, has been given regulatory approval to set up a branch in Phnom Penh in Cambodia, Taiwan's financial regulator said Thursday.

The two other Taiwanese banks currently operating in Cambodia are First Financial Holding Co. and Mega Financial Holding Co., said the statement, without elaborating.

Cathay Financial is Taiwan's largest listed financial conglomerate by assets.

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