Chang Hwa Commercial Bank: The Manila branch has been assessed by the Central Bank of the Philippines for agriculture-related loan deficiency.







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Provided by: CHANG HWA COMMERCIAL BANK, LTD.

SEQ_NO

1

announcement date

2022/08/19

Announcement time

16:59:15

Matter

 Manila Branch was assessed by the Central Bank of
the Philippines for insufficient agricultural-related
loan.

Date of events

2022/08/19

What item it responds to

paragraph 39

Statement

1.Date of occurrence of the event:2022/08/19
2.Circumstances of the violation:Manila Branch has not met the minimum amount
required to be allocated for agriculture loan set by Bangko Sentral ng
Pilipinas (Central Bank of Philippines) in the period of January 2021 to
December 2021.
3.Monetary amount of fines:
PHP2,460,750.32 (equal to NTD1,305,182,exchange rate 0.5304)
4.Status of the injunction by the respective competent authority:
Assessment fee of PHP 2,460,750.32
5.Intended improvement measures:
To allocate agricultural-related assets and bonds.
6.Effect on the Company's business operations:
Assessment fee of PHP 2,460,750.32
7.Any other matters that need to be specified:None

Disclaimer

CHB – Chang Hwa Commercial Bank Ltd. published this content on August 19, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on August 19, 2022 09:13:03 UTC.

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