Chinatrust invests in bank

Chinatrust invests in bank

NEW DELHI (Reuter): One of Taiwan' biggest banks, Chinatrust Commercial Bank, will invest US$50 million in a joint venture bank with Tamara Bank of Indonesia, Chinatrust chairman Jeffrey L.S. Koo said on Thursday.

In an interview with Reuters in the Indian capital, Koo said Chinatrust would control 85 percent of the bank with the balance to be controlled by Tamara Bank.

"It is part of our effort to expand all over Asia," Koo said. Koo was in New Delhi to inaugurate Chinatrust's first branch in India.