Manila Branch was assessed by the Central Bank of the
Philippines for insufficient agricultural-related loan.
Date of events
2022/01/12
To which item it meets
paragraph 39
Statement
1.Date of occurrence of the event:2022/01/12
2.Circumstances of the violation:Manila Branch has not met the minimum amount
required to be allocated for agriculture loan set by Bangko Sentral ng
Pilipinas (Central Bank of Philippines) in the period of January 2020
to December 2020.
3.Monetary amount of fines:
PHP2,550,744.06 (equal to NTD1,525,090�Aexchange rate 0.5979)
4.Status of the injunction by the respective competent authority:
Assessment fee of Php 2,550,744.06
5.Intended improvement measures:
To acquire more agricultural-related assets and bonds.
6.Effect on the Company��s business operations:
Assessment fee of Php 2,550,744.06
7.Any other matters that need to be specified:NA
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CHB - Chang Hwa Commercial Bank Ltd. published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 09:10:03 UTC.
Chang Hwa Commercial Bank Ltd is a Taiwan-based company principally engaged in the provision of financial services. The Company operates through deposit business, loan business, foreign exchange business, credit card business, electronic banking business, trust business, wealth management business, investment business and security business. Its deposit business includes demand deposits, time deposits and interbank deposits. Its loan business includes short-term money lending, medium-term money lending and long-term money lending. Foreign exchange business includes export, import and foreign exchange. Credit card business includes card issuing and card accepting businesses. Its electronic banking services include internet banking, telephone banking and mobile banking. The trust business includes securities trust and real estate trust. Its investment business includes securities investment, short-term bills and the proprietary trading in government bonds.
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