Taiwanese banks

Cathay Financial expands into Indonesia

Taiwan’s Cathay Financial Holding is buying a 40% stake in Indonesia’s Bank Mayapada for $278 million after buying 20% of Rizal in the Philippines.

Taipei's financial institutions head out of town

Alison Tudor-Ackroyd

January 05, 2015

Cathay Financial Holding has agreed to buy a 40% stake in Indonesia's Bank Mayapada for IDR3.52 trillion ($278 million), the Taiwanese banking group said on Monday, furthering its expansion across the Asean bloc.

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