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Cathay Financial Unit Transfers $14 Million of Performing Syndicated Loan Assets

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Cathay Financial's (TPE:2882) banking unit, Cathay United Bank, transferred performing syndicated loan assets valued at $14.3 million, according to a Wednesday Taiwan Exchange filing.

The assets were transferred to a group of financial institutions, including Taichung Commercial Bank (TPE:2812), KfW IPEX-Bank, Hua Nan Commercial Bank, Bank of China (Hong Kong), Mega International Commercial Bank, Taiwan Cooperative Bank and other lenders.

The transfer is intended to manage the bank's syndicated loan assets, it said.

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