TAIPEI (Taiwan News) — Taishin Financial Holding and Shin Kong Financial Holding will complete their merger on July 24, forming Taiwan’s fourth-largest financial holding company by assets.

The merger received shareholder approval at both companies’ extraordinary general meetings on Oct. 9 last year. Taiwan’s Fair Trade Commission approved the deal on Jan. 9, followed by the Financial Supervisory Commission’s final approval on March 31, per CNA.

The merger is expected to expand the group’s operational scale and boost competitiveness across banking, insurance, and digital finance. Taishin Director Lin Wei-jiun (林維俊) said the deal will increase market share and lead to a more balanced profit structure across core business segments.

Taishin Chairman Thomas Wu (吳東亮) emphasized the complementary strengths of the two firms, citing Taishin’s edge in banking and digital finance and Shin Kong’s stronghold in life insurance. Wu said the merger will allow the group to offer more comprehensive, one-stop financial services.

Following the merger, integration efforts will ramp up to realize operational synergies. Lin added that the group will focus on anti-fraud initiatives and invest in artificial intelligence and data-driven strategies to grow its fintech capabilities.

Taishin is issuing new shares as part of the deal and is currently in a mandatory quiet period, during which it cannot provide forward-looking financial guidance.

Full legal consolidation of subsidiaries is expected to be completed by the end of June 2025. If the process stays on track, the company could begin distributing cash dividends as early as August.

In 2024, Taishin Holdings reported NT$20 billion (US$671 million) in net profit, the second-highest in its history. Lin credited strong performances from its key subsidiaries.

Taishin International Bank earned NT$18.5 billion, up nearly 25% year-on-year. Taishin Securities saw a 53% surge in earnings to NT$2.36 billion, while Taishin Life posted NT$1.24 billion in after-tax profit.