Bank of Taiwan and North American Trust sign Memorandum of Cooperation

Bank of Taiwan and North American Trust sign Memorandum of Cooperation

(Taiwan Business Daily News) the Bank of Taiwan and the American North American Trust (The Northern Trust Company) held the first strategy meeting and signing ceremony of the cooperation memorandum at the W Hotel in Section 5 of Zhongxiao East Road in Taipei on the 21st. The banks of both sides hope to jointly cultivate the overseas asset custody business of Taiwan outsourced operations through business cooperation, combining each other's niches and advantages in the domestic custody and global custody markets.

The Bank of Taiwan is the leading custodian bank in China. After more than 30 years of hard work, it has laid a solid foundation for development. Its professional and service quality has been deeply recognized by the market, and it has been selected as the custodian bank of government funds. In 1980, the government of the Bank of Taiwan (the former Central Trust Bureau) opened up foreign direct investment in the domestic securities market, and was the first to set up the custody business of foreign investment assets in Taiwan. it is also the largest non-foreign bank that provides international custodian services among domestic operators.

At present, the bank has a complete product line of custody business, with overall custody assets of NT $1.4 trillion. In addition, the bank was invited to join the International Securities Association (International Securities Service Association, ISSA) as a member in mid-March this year. Through active participation in the association, the bank's custody business will be brought into line with international standards, and the bank's visibility in the global custody industry will be enhanced.

▲ Taiwan Bank and North American Trust sign Memorandum of Cooperation