Taiwan's CTBC Bank opens branch at GIFT City

Beijing, May 15 (PTI) CTBC Bank of Taiwan has opened its branch at GIFT City in Gujarat to support cross-border financing and enhance financial connectivity between India, Taiwan, Asia, and global markets.

CTBC Bank is the only Taiwanese bank with a branch presence in India and the first Taiwanese lender to establish a presence at GIFT City, the bank said in a press release.

The establishment of the GIFT City branch reinforces CTBC Bank’s commitment to supporting cross-border financing, trade, investment flows, treasury solutions, and financial connectivity between India, Taiwan, Asia, and global markets, it said.

The new branch has been established in pursuit of serving clients in the Indian subcontinent and Taiwan, while leveraging GIFT City’s

position as India’s emerging international financial services hub, it said.

“GIFT City welcomes CTBC Bank’s entry into India’s premier international financial services hub. As the first Taiwanese bank to establish a presence at GIFT City, CTBC Bank’s arrival further strengthens our growing banking ecosystem and reinforces GIFT City’s position as a gateway for global financial institutions,” Sanjay Kaul, Managing Director and Group CEO, GIFT City, stated in the release.

Tanmoy Adhikari, CEO India, CTBC Bank, said that the GIFT City branch will enable the bank to serve its clients on cross-border business in a better way through greater efficiency and access to international products and services.

CTBC Bank, established in 1966, has been present in India for 30 years through its New Delhi and Kattupakkam, Chennai branches. PTI KJV HVA