Fubon Bank’s Hong Kong subsidiary opens first mainland China branch in Shenzhen
Fubon Bank (Hong Kong) has opened its first branch outside its home market, moving into mainland China to tap surging cross-border business opportunities as competition among foreign lenders in the Greater Bay Area intensifies. The branch, located in Shenzhen’s Qianhai financial zone, would initially focus on corporate banking, offering tailored cross-border financing to technology firms and…
Fubon Bank, a publicly traded financial institution based in Taiwan, has inaugurated its inaugural branch in mainland China, specifically in Shenzhen’s Qianhai financial district. This strategic expansion aims to capitalize on burgeoning cross-border business prospects as competition among international lenders in the Greater Bay Area escalates.
The opening of the branch, announced on Tuesday, will primarily concentrate on corporate banking, providing customized cross-border financing solutions to technology companies and businesses aspiring to broaden their global reach.
The move by Fubon Bank (Hong Kong) aligns with the growing presence of foreign banks in Shenzhen, a city celebrated for its thriving technology sector and the rapid integration across the Greater Bay Area – Beijing’s ambitious plan to amalgamate Hong Kong, Macau, and nine Guangdong cities into a unified economic entity. Tsai Ming-chung, chairman of Fubon Bank (Hong Kong), underscored the importance of the Greater Bay Area, noting its status as one of China’s most prosperous and dynamic regions.
He emphasized that the opening of the Shenzhen branch is timely and strategic, as industrial development surges and corporate demand for international expansion intensifies.
Fubon Bank is a wholly owned subsidiary of Fubon Financial Holding, a prominent financial conglomerate headquartered in Taipei, Taiwan. The decision to establish a branch in Shenzhen follows a robust first half of fiscal year 2026 for the bank. Its net profit surged by 24% year-over-year to HK$887 million (approximately US$113 million), driven by a 16% increase in net interest income.
Moreover, total assets expanded by 8% to HK$206 billion, propelled by an 11% rise in customer loans to HK$95.6 billion and a 7% increase in customer deposits to HK$174.6 billion.
Looking ahead, Fubon Bank outlined a dual-track strategy to bolster its presence in both Hong Kong and the mainland Chinese market. CEO Chung Kwok-keung articulated the bank's vision, stating that while it will reinforce its foundation in Hong Kong, the Shenzhen branch will evolve into a pivotal hub for cross-border finance. This platform is envisioned to interconnect the economies of mainland China, Taiwan, and Hong Kong, positioning Fubon Bank as a key player in facilitating seamless financial transactions across these jurisdictions.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
