Industrial Bank of Taiwan mulls investing in China

IBT plans to put up a trust company specialising in securitising assets.

Industrial Bank of Taiwan (IBT) Chairman Kenneth Lo said that the company plans to establish a trust company in mainland China with a fund on the mainland.

According to a report in China Knowledge, the trust company will initially focus on securitising assets, as there are barriers to launching other operations in areas such as private equity in mainland China.

Earlier, the lender said in October that it plans to invest $5 million to set up two subsidiaries, one each in Jiangsu Province and Huai'an, through its Hong Kong-based subsidiary.

IBT finalised the loan agreement on 10 December 2009.