Investment bank to open leasing outlet in Tianjin


TAIPEI — Industrial Bank of Taiwan (IBT) said yesterday it is planning to open a financial leasing outlet in Tianjin by the end of this year to serve small- and medium-sized enterprises in the Chinese city. IBT, one of Taiwan’s leading investment banks, said it is studying the feasibility of either setting up a directly owned leasing company to run the Tianjin office or opening the outlet under its existing leasing unit — IBT International Leasing Corp. The bank disclosed the plan during a meeting between IBT Chairman Kenneth Lo and visiting Tianjin Mayor Huang Xingguo. Lo said IBT has decided to use Tianjin as its China headquarters as the bank has forged close business ties with the Chinese city and looks forward to a stronger partnership.