First Financial to Focus on China and SE Asia in 2012

Taipei, Oct. 7, 2011 (CENS)--First Financial Holding Co., Taiwan’s government-linked financial holding company, plans to focus on overseas operations next year, mainly China and Southeast Asia.

C.N. Tsai, the chairman, says the company completed capital increment late last month to raise the tier 1 capital ratio to 8%, which is core equity to total assets, hence is able to expand overseas operations.

First Commercial Bank, an affiliate of First Financial, has a branch in Shanghai and plans to set up the second in Chengdu, Sichuan Province, where it plans to set up a second leasing subsidiary, with the applications for both the establishments having been submitted for approval. The planned Chengdu bank branch is scheduled to open before June 2012 and the leasing subsidiary even earlier.

Tsai disclosed that FFH may acquire small- and/or medium-sized banks in S.E. Asia to meet potential growing demand there.

First Financial’s Operations in Asia
	Status
Singapore	One bank branch
Thailand	One representative office in Bangkok
Vietnam	Two bank branches, one in Hanoi and the other in Ho Chi Minh City
Cambodia	One bank branch in Phnom Penh
Hong Kong	One bank branch
Macao	One bank branch
Japan	On bank branch in Tokyo
China	One bank branch in Shanghai and one leasing subsidiary in Suzhou of Jiangsu Province