Expanding North American Footprint: E.SUN Bank Approved to Establish Dallas Branch in the US

(Central News Agency reporter Su Szu-yun, Taipei 12th) E.SUN Bank was approved by the Financial Supervisory Commission (FSC) on October 17, 2024, to establish a representative office in Dallas, USA. Considering the rapid economic expansion of Texas in recent years, E.SUN Bank planned to upgrade its Dallas representative office to a Dallas branch. The FSC today stated that it has approved E.SUN Bank's application to the US authorities to establish a Dallas branch.

Wang Yun-chung, Deputy Director-General of the FSC's Banking Bureau, stated that E.SUN Bank's application to the US authorities to establish a Dallas branch has been approved. Regarding capital requirements, Texas regulatory authorities currently have no capital requirements for foreign banks establishing local branches. E.SUN Bank plans to apply for establishment with a capital of US$10 million.

E.SUN Bank was approved by the FSC on October 17, 2024, to establish a representative office in Dallas, USA. Wang Yun-chung pointed out that E.SUN Bank considered the rapid economic expansion of Texas in recent years, which has attracted many large enterprises to settle there, and many Taiwanese businesses have also set up factories there. To expand its North American market layout, E.SUN Bank planned to upgrade its Dallas representative office to a Dallas branch, building a complete North American financial services platform.

As of the end of April this year, E.SUN Commercial Bank has 2 subsidiaries, 9 branches, and 5 representative offices overseas, located in 11 countries or regions including mainland China, Cambodia, the United States, Hong Kong, Singapore, Vietnam, Australia, Myanmar, Japan, Thailand, and Malaysia.

The FSC stated that domestic banks have a total of 25 branches, 3 subsidiaries, and 5 offices in the United States. Among them, there are 2 branches and 2 offices in Texas, with branches being Cooperative Bank's and First Commercial Bank's Houston branches, and Land Bank's representative office and the planned upgraded E.SUN Bank's representative office.

FSC data shows that the countries with the most overseas branches for domestic banks are mainland China and the United States, both with 25 branches. If subsidiaries and sub-branches are included, the country with the most overseas branches is Thailand, with a total of 94 overseas branches. (Editor: Huang Kuo-lun) 1150512

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