IBF Financial, a holding company, agreed to acquire EnTie Commercial, a firm that provides commercial banking products and services, from Longreach Group, an investment company, for $1.2bn. Longreach’s exit from EnTie, marks the end of a 14-year partnership, as per a company statement. IBF and EnTie will co-work to build a stronger new financial institution in Taiwan. On December 6, 2021, shareholder meetings approve the acquisition of EnTie Commercial bank by IBF Financial Holdings.