Taiwan's banking sector has been rife with consolidation in the past two years. Many state-owned banks are merging, as the result of a government drive to cut the number of domestic financial institutions. Taiwan's largest bank, Bank of Taiwan, is set to combine with the smaller Central Trust of China, while the Taiwan Cooperative Bank and Farmers Bank of China have agreed to a merger due to take effect from May 2006.
Meanwhile, foreign investors have been looking to raise their stakes in Tai
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