Citigroup’s Acquisition of Bank of Overseas Chinese completed

December 1, 2007

Citigroup Inc, in an announcement said that it has completed the Acquisition of Bank of Overseas Chinese. Citigroup Inc is the most profitable bank in Taiwan and is on an acquisition spree in order to boost the number of branches. With the acquisition of Bank of Overseas Chinese, Citi’s number of branches in Taiwan increased by six times. Other overseas rivals which have a presence in Taiwan, which is a very fast growing asian economy are JP Morgan Chase and Standard Chartered.

Posted in Acquisitions