Fitch Affirms CTBC Group at 'A'; Outlook Negative

(The following statement was released by the rating agency)

TAIPEI/HONG KONG, September 21 (Fitch) Fitch Ratings has

affirmed all the

ratings for Taiwan-based CTBC Financial Holding Co., Ltd. (CTBC

Holding) and its

subsidiaries, including CTBC Bank Co., Ltd. (CTBC Bank), Taiwan

Life Insurance

Co., Ltd. (Taiwan Life) and CTBC Securities Co., Ltd. (CTBC

Securities). The

Outlooks on the ratings of these entities are Negative. A full

list of rating

action is at the end of this commentary.

CTBC

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