TS Financial launches following completion of merger

Taipei, July 24 (CNA) TS Financial Holding Co. was officially launched Thursday, becoming Taiwan's fourth-largest financial holding firm by total assets after the merger of Taishin Financial Holding Co. and Shin Kong Financial Holding Co.

Thomas Wu (吳東亮), chairman of TS Financial, unveiled the company's nameplate at an inauguration ceremony at its Taipei headquarters, marking the official launch of the merged entity's operations.

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A large curtain bearing the four Chinese characters "認真同行," meaning "move forward with dedication," was hung on the wall of TS Financial's headquarters to symbolize the new company's commitment to resource integration and employee unity.

Taishin Financial and Shin Kong Financial first announced the merger in August 2024. The deal was approved by shareholders in October, cleared by the Fair Trade Commission in January 2025, and received final approval from the Financial Supervisory Commission in late March, marking the first friendly takeover in Taiwan's financial holding sector.

During the process, the two companies fended off a counterbid from CTBC Financial Holding Co., which had also sought to acquire Shin Kong Financial.

The merger raised TS Financial's total assets to around NT$8.3 trillion (US$283 billion), making it the fourth-largest financial holding company in Taiwan, behind Cathay Financial Holding Co., Fubon Financial Holding Co. and CTBC Financial.

Also Thursday, Shin Kong Financial's shares were delisted from the Taiwan Stock Exchange (TWSE), ending the company's more than 23-year run on the main board.

Wu said in a recent interview with CNA that the new company would operate the largest banking network among Taiwan's private banks, with more than 200 branches nationwide under TS Financial's umbrella through Taishin International Bank and Shin Kong Bank.

Following the completion of the financial holding company merger, the integration of the securities trust businesses is scheduled for the end of this year, with life insurance and securities mergers planned for January and April 2026, respectively.