Taishin and Shin Kong have finalized their merger
TS Financial Holding Co, the newly merged entity formed by the combination of Taishin Financial Holding Co and Shin Kong Financial Holding Co, has ambitious plans to become a globally competitive financial group. The merger, pending regulatory approval, will see the issuance of 53.37 million new shares to Taishin Trust in exchange for Shin Kong Trust shares at a ratio of 1.3342 Taishin shares for each Shin Kong share.
The integration process has already begun, with Taishin Securities Investment Trust Co approving a share swap to absorb Shin Kong Investment Trust Co. This merger will create Taiwan's fourth-largest financial holding company with NT$8.3 trillion (US$282.3 billion) in assets, over 10 million clients, and more than 1 million shareholders.
Chairman Thomas Wu, also the chairman of the Chinese National Association of Industry and Commerce, believes now is the best time for Taiwanese firms to compete internationally. As part of its strategy, TS Financial is exploring cross-border opportunities to align with global companies seeking partnerships with Taiwan. International expansion, particularly in Asia, is a key goal for TS Financial.
TS Financial's key strategies include scale and consolidation, a multi-engine growth model, operational integration, comprehensive product portfolio, digital banking & infrastructure, talent stabilization, life insurance business expansion, and signaling industry consolidation.
The company aims to execute effective integration to maximize synergies and operational efficiency, build a balanced, multi-faceted financial services platform covering banking, insurance, securities, and asset management, expand and enhance product offerings using combined expertise, and leverage scale, digital platforms, and extensive customer networks to increase competitiveness in Taiwan and globally.
Recognizing the importance of corporate culture and talent retention post-merger, the management plans to stabilize personnel and retain key employees to maintain operational continuity and innovation. The merger notably strengthens the group’s life insurance capability, combining Taishin’s banking strength with Shin Kong’s life insurance operations to provide more comprehensive insurance services.
The long-term success of TS Financial will depend largely on its ability to harmonize the merged entities’ operations, cultures, and systems while innovating and competing in a rapidly evolving global financial landscape. This strategy reflects a broader trend of financial consolidation in Taiwan aimed at creating institutions capable of competing on a global scale and supporting domestic economic growth.
In addition, TS Financial now operates the most widely used digital banking platform in the nation, which will be a key vehicle for enhancing customer engagement and service delivery in the digital era. Shares of TS Financial dropped 6.3 percent to NT$16.3 on heavy volume, due to the market digesting the near-term integration challenges and restructuring costs. Despite this initial dip, the outlook for TS Financial remains positive as it embarks on its journey to become a leading global financial institution.
- The merger between TS Financial Holding Co, formed by Taishin Financial Holding Co and Shin Kong Financial Holding Co, plans to collaborate with global companies in business areas like finance and insurance.
- With a focus on digital banking, TS Financial aims to deliver enhanced services and engage customers more effectively, strengthening its position as a globally competitive financial group in the business sector.
