Cathay about the country from Chinese books and from conversation with people of all walks of life. During his first 15 years in China (1583–1598) Matteo Ricci formed a strong suspicion that Marco Polo's "Cathay" is simply the "Tatar" (i.e., Mongol) name for the country he was in, i.e. China. Ricci supported his arguments by numerous correspondences between Marco Polo's accounts and his own observations: Most importantly, when the Jesuits first arrived to Beijing 1598, they also met a number of "Mohammedans" or "Arabian Turks" – visitors or immigrants from the Muslim countries to the west of China, who told Ricci
Cathay Bank plans to acquire a 20% stake in First Sino Bank, but the deal fell through due to the companies failing to get approval from the Chinese government. On March 30, 2007, Cathay expanded into New Jersey when it completed its acquisition of United Heritage Bank. In 2007, Cathay Bank converts its Hong Kong Representative office into a full service branch. On January 21, 2015, Cathay General Bancorp, the holding company for Cathay Bank, and Asia Bancshares, the holding company for Asia Bank, N.A., announced that they have entered into a definitive agreement for the merger of Asia Bancshares into Cathay.