Taiwan’s financial regulator Financial Supervisory Commission (FSC) is examining BBVA’s application to upgrade its representative office in Taipei, The Wall Street Journal reports. The move will allow the Spanish bank to expand its business in Taiwan.
BBVA is planning to inject €15 million into its Taiwan unit by the end of this year to fund the upgrade. The bank is expected to hire nearly 30 employees once the Taiwan branch begins operations, adds Banking Business Review.
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