Taiwan's Financial Supervisory Commission announced that Taipei Fubon Commercial Bank and Jih Sun International Bank have received regulatory approval to merge. This, after Fubon Financial, the parent company of Taipei Fubon, completed its takeover of Jih Sun, making Taipei Fubon the country's third-largest bank in terms of assets. Jih Sun would cease to exist following the merger. Taipei Fubon and Jih Sun Bank said the merger would provide wider business deployment and allow for better customer services. They also expect it to help promote resource integration and increase market competitiveness.