China Development Financial Holding Corporation
Company typeBank Holding Company, Public Company
IndustryFinance
Founded28 December 2001
HeadquartersSongshan District, Taipei, Taiwan
Key people
Total assetsNTD$3,498,255,860
Total equityNTD$149,763,033,620元
OwnersChin Wen Investment Co., LTD
Jing Kwan Investment Co., LTD.
Bank of Taiwan
SubsidiariesCDIB Capital Group
KGI Bank
KGI Securities
China Life
Websitewww.cdfholding.com/en

China Development Financial Holding Co., Ltd. (CDF; Chinese: 中華開發金融控股股份有限公司; pinyin: Zhōnghuá Kāifā Jīnróng Kònggǔ Gǔfèn Yǒuxiàn Gōngsī) is a Financial Holding Corporation in Taiwan. It mainly does business with its key subsidiaries the CDIB Capital Group, KGI Securities, KGI Bank and China Life.

Development history

In 1959, China Development Corporation was established through the collective efforts of the Economic Stabilization Committee of the Executive Yuan, the World Bank, and public capital as Taiwan's financial institution focusing on direct investments.[1]

In 1999, China Development Corporation was restructured as an industrial bank. Renowned for direct investment service, China Development Industrial Bank had continued its way to support local industry.

In December 2001 the China Development Industrial Bank (CDIB) established the CDF by way of a stock swap. On November 8, 2002, the Grand Cathay Securities Corporation and Elite Securities became subsidiaries of CDF through a stock swap. On December 31, 2003, CDF merged Grand Cathay Securities and Elite Securities.

In 2005, CDF planned to acquire Jinding Securities, however CDF was not able to get Jinding Securities' original management team to agree. After four years of continuing to buy stocks, in 2009 CDF had finally held a 48% stake in Jingding Securities, but following five years of controversy CDF was ultimately unable to merge with Jingding Securities.

In 2012, CDF publicly acquired the second largest securities firm in Taiwan, KGI Securities, for NT$54.6 billion, with the largest merger in the history of Taiwan. KGI was acquired at NT$5.5 per share cash at a 1.2 to 1 exchange rate. The exchange was complete on January 18, 2013, and CDF acquired 100% of the stock rights for KGI.[2] On June 22 of that same year, KGI Securities merged with Grand Cathay Securities Corporation with KGI being the surviving company.

In June 2013, KGI Securities merged with Grand Cathay Securities, another subsidiary within CDF. After the business integration of its two major securities companies, it has become the leader of domestic investment banks, bonds and new financial products.

In 2014, CDF acquired Cosmos Bank as a subsidiary at the cost of NT$23.09 billion, and in 2015 Cosmos Bank became known as “KGI Commercial Bank”.[3][4][5][6] From this point on, CDIB's Corporate Finances and Financial Markets were ceded to KGI Commercial Bank.[7]

In March 2017, CDIB transformed into CDIB Capital Group in March 2017. Continuing the core of Industrial Bank, CDIB Capital Group is committed to private equity investment funds and actively expand asset management business.

In September 2017, China Life became an integral part of the group.

In April 2021, CDF committed net zero carbon emissions by 2045[8]

In October 2021, CDF convened an extraordinary shareholders’ meeting and approves the acquisition of all remaining China Life stock.[9]

In October 2021, CDF completed the move to its new headquarters on the 20th anniversary of the holding company.[10]

See also

References

  1. ^ "開發金控　難逃財團爭食的宿命？｜天下雜誌". 天下雜誌 (in Chinese). 2023-02-14. Archived from the original on 2024-01-21. Retrieved 2024-01-21. 原因都是積極想入主開發金的民間財團持股不足...尤其是九○年代以前，資本市場不發達、企業籌資困難，開發工銀與交通銀行，是政府特准直接投資企業的兩家銀行，再加上行政院開發基金，是協助政府發展策略性產業與創業投資的重要金融工具。
  2. ^ 夏淑賢 (2013-01-06). "凱基證 明最後交易日 當日未賣出投資人 將換股成為開發金股東". 經濟日報.
  3. ^ 田裕斌 (2014-02-10). "開發金控砸230億 併購萬泰銀行" (in Chinese (Taiwan)). 中央通訊社. Archived from the original on 2014-02-21. Retrieved 2014-02-10.
  4. ^ 陳瑩欣、林巧雁 (2014-09-16). "併入開發金 萬泰銀下市". 台灣蘋果日報. Retrieved 2014-10-09.
  5. ^ 陳瑩欣 (2014-10-09). "萬泰銀掰掰！ 正式更名為凱基銀行". 台灣蘋果日報即時新聞. Retrieved 2014-10-09.
  6. ^ 田裕斌 (2014-10-09). "萬泰銀走進歷史 改名凱基銀行" (in Chinese (Taiwan)). 中央通訊社. Retrieved 2014-10-09.
  7. ^ 楊筱筠 (2015-05-05). "凱基銀讓與完成 開發金拚總資產破兆" (in Chinese (Taiwan)). 聯合報. Retrieved 2015-05-12.
  8. ^ 夏淑賢，開發金宣示2045淨零碳排 提出五大具體策略 Archived 2021-10-05 at the Wayback Machine，經濟日報，2021-04-29
  9. ^ 陳欣文，開發金控股東臨時會通過取得中國人壽剩餘流通在外全部股權 Archived 2021-10-05 at the Wayback Machine，經濟日報，2021-10-01
  10. ^ 陳蕙綾，開發金控成立20年 新總部落成啟用 Archived 2021-10-05 at the Wayback Machine，鉅亨網，2021-10-04
Wikimedia Commons has media related to China Development Financial Holdings.
Categories