Experienced foreign banks are thriving in Taiwan

The country's competitive loan market is opening new doors of opportunities.

The island-nation of Taiwan is becoming a developing market for international banks, with its competitive loan market dominated by domestic lenders, Reuters reports.

For instance, Japanese bank Mizuho Bank is the coordinator on a $977m (NT$28.5b) acquisition loan for Pou Chen Corp. which is the world's biggest footwear maker.

“We are seeing more competition from our overseas counterparts in cross-border acquisition deals as they have branches in Taiwan and they are more experienced in this field, and sentiment is quite positive,” a senior loan manager at a top-tier Taiwanese state-owned bank told Reuters.

The two other big Japanese banks, MUFG and Sumitomo Mitsui Banking Corp., are also joint mandated lead arrangers and bookrunners on Pou Chen's loan.

Here's more from Reuters.