Brief: Bank of New York wins BOOC outsourcing contract

Brief: Bank of New York wins BOOC outsourcing contract

Taiwan-based Bank of Overseas Chinese is to outsource its letter of credit processing to The Bank of New York.

BOOC operates 58 branches in Taiwan and three subsidiaries and offers a full range of retail and business banking products to the Taiwanese market along with trade finance and foreign exchange operations.

Kenneth Lopian, senior vice president, and Asia/Pacific division head at The Bank of New York, says: "This appointment is further evidence of the bank's commitment to trade processing in support of our correspondent clients on a global basis."

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