Taiwan regulator approves SinoPac acquisition of King’s Town Bank

Taiwan’s Financial Supervisory Commission has approved SinoPac Financial Holdings’ acquisition of King’s Town Bank in a TWD60bn (USD2.03bn) cash-and-stock deal. The transaction, expected to conclude by end-2025, will expand SinoPac’s branch network from 125 to 191 branches, particularly strengthening its presence in southern Taiwan. Post-merger, the combined institution will command 4.24% of total deposits and 4.37% of lending market share, moving SinoPac to 13th place among financial holding firms. SinoPac will issue new shares to fund the purchase and has pledged to retain King’s Town Bank’s 700 employees.