Cathay Financial: Europe Debt Exposure Mostly Corporate Bonds
September 13 2011 - 4:33AM
Dow Jones News
Cathay Financial Holding Co. (2882.TW), Taiwan's largest
financial holding company by assets, said Tuesday most of the
bank's investment in Europe are in corporate bonds, keeping it
"relatively safe" amid Europe's escalating sovereign debt
problem.
Alan Lee, Cathay Financial's executive vice president, told Dow
Jones Newswires around 30% of its overseas portfolio is allocated
to Europe. He didn't elaborate.
He said the bank holds corporate paper issued by companies in
Italy, Spain, the U.K., Germany and France.
-By Jenny W. Hsu, Dow Jones Newswires; 886-2-25022557;
aries.poon@dowjones.com