To expand its banking operations in Asia, in December 2014, CUB through its sister company and life insurance arm of Cathay Financial Holding, Cathay Life Insurance, acquired a 22% share (approximately US$179 million) of Philippines' Rizal Commercial Banking Corp (RCBC).
To broaden its banking activities in Asia, in December 2014, CUB, via its affiliate and life insurance subsidiary of Cathay Financial Holding, Cathay Life Insurance, purchased a 22% stake (around US$179 million) in the Philippines' Rizal Commercial Banking Corporation (RCBC).