Francisco González opens BBVA branch in TaiwanJuly 3, 2012
- BBVA becomes the first Spanish bank to open a branch in Taiwan
- The bank will offer a wide range of corporate and investment banking services, such as structured finance, commercial finance, syndicated loans, corporate finance and capital markets, among others
- BBVA now has five branches in Asia: Taipei, Hong Kong, Singapore, Tokyo and Seoul
Francisco González attended the opening of the new BBVA branch in Taipei today. The BBVA Chairman and CEO said Taiwan was a strategically important market given its developed and expanding economy, large financial sector and excellent credit rating. Robust public finances, strong protection against external factors and a current account surplus also make Taiwan one of Asia's most promising markets.
BBVA's representative office in Taipei, set up in 2006, is now a full branch. BBVA is the first Spanish bank to open a branch in Taiwan and the first European bank to open one since the financial crisis began.
At today's press conference in Taipei, Francisco González highlighted Taiwan's strong growth potential, which has made it one of BBVA's most important markets and a key part of the bank's expansion plans for Asia.
During his visit to Taiwan, the BBVA Chairman and CEO met with the Deputy Governor of the Central Bank of Taiwan, Mr. Chin-Long Yang, and other government authorities, along with local companies and corporations. González also attended the official opening of the new BBVA branch in Taipei, located in one of the main towers of the capital city's financial district.
Focused on investment banking and global markets business, the new branch is designed to meet the needs of Taiwan's large multinational corporations and institutional investors, especially those with interests in Latin America. BBVA wants to position itself in Taiwan as a provider of a standard range of products (e.g. structured finance, commercial lending, syndicated loans, corporate finance and capital markets) in foreign markets where local banks do not have operations, such as Latin America, Spain, Portugal and the US. BBVA has a broad network of branches and an end-to-end service platform in these markets.
Years of experience in Asia
BBVA began building its Asian franchise over 30 years ago and now has operations in the continent's main financial centers. The Taipei branch will be added to the Group's four other branch offices in the region, in Hong Kong, Seoul, Singapore and Tokyo. BBVA also has representative offices in Beijing, Shanghai, Mumbai and Sydney as well as a strategic agreement with China CITIC Bank (CNCB) on mainland China (15% stake) and another with CITIC International Financial Holdings in Hong Kong (30% stake). Not only is BBVA the leader in Latin America, it is now the only European bank with full operating capacity in Asia.