The Bank of New York announced today its appointment by Bank of Overseas Chinese to service its letter of credit processing.
Bank of Overseas Chinese (BOOC), founded 40 years ago, is a publicly listed institution based in Taipei, Taiwan, R.O.C. BOOC operates 58 branches in Taiwan and three subsidiaries with a total of over 2,000 employees as of September 30, 2001. BOOC offers a full range of retail and business banking products to the Taiwanese market along with trade finance and foreign exchange operations.
Kenneth Lopian, senior vice president, and Asia/Pacific division head at The Bank of New York, said, “We are delighted that Bank of Overseas Chinese has selected The Bank of New York as its outsourcing partner. This appointment is further evidence of the Bank’s commitment to trade processing in support of our correspondent clients on a global basis.”