CTBC Bank Expands US Footprint: Houston Representative Office Approved

Taiwan's CTBC Bank gains green light to establish a representative office in Houston, solidifying its presence in the U.S. market and boosting support for Taiwanese investors.

Taipei, April 23 - CTBC Bank, the key banking division of Taiwan-based CTBC Financial Holding Co., has received the Financial Supervisory Commission (FSC)'s approval to launch a representative office in Houston, the FSC announced on Wednesday.

In an official statement, the FSC, Taiwan's foremost financial regulatory body, highlighted that CTBC Bank already operates in the United States through a subsidiary located in Los Angeles, a branch in New York, and a representative office in Los Angeles.

The establishment of a Houston representative office aims to enhance financial service offerings for a growing number of Taiwanese investors and help them broaden their involvement in the U.S. market, according to the FSC.

The regulatory framework permits Taiwanese banks to initially establish representative offices in international markets to gather essential market intelligence before potentially upgrading them into full-fledged branches.

The FSC reported that a total of 25 Taiwanese banks have branches operating in the U.S. market, with three having subsidiaries and another three maintaining representative offices. Specifically in Texas, the FSC noted that two Taiwanese banks currently operate branches.

As of December 2024, CTBC Bank's international network encompasses 12 branches spread across various markets, including Hong Kong Island, Kowloon, New Delhi, Sriperumbudur, New York, Tokyo, Ho Chi Minh City, Singapore, Shanghai, Guangzhou, Xiamen, and Shenzhen.

Furthermore, CTBC Bank manages subsidiaries in Indonesia, the Philippines, Canada, the U.S., Japan, and Thailand, and maintains representative offices in Bangkok, Hanoi, Beijing, Los Angeles, Kuala Lumpur, Sidney, and Yangon, according to the FSC.

In 2024, CTBC Bank's pre-tax profit derived from its global operations surpassed NT$20 billion, representing more than 30 percent of its overall pre-tax profit, which reached NT$62.83 billion (US$193 million).