The banking sector in Taiwan has been reported as saturated with 68 banks, 25 credit cooperatives, 60 insurance companies, and over 100 security companies. Despite the competition and oversaturation of the financial market from domestic and foreign banks as well as credit cooperatives targeting the same customers, the outlook of the banking sector of Taiwan is stable. It is also important to note that the risks of the financial industry are still reasonably high because of the structural problems and low profitability due to extreme competition.
A large portion of Taiwanese banks have origins and strong ties with Mainland China due to a shared history. As a result, even the apex bank within that country that regulates the activities of all the biggest banks is known as the Central Bank of China (Taiwan).
TOP-15 biggest banks in Taiwan are as follows.
- CTBC Bank
- Deutsche Bank
- Hua Nan Com Bank
- Bank of Taiwan
- Shanghai Commercial and Savings Bank
- ESUN Commercial Bank
- Land Bank Of Taiwan
- Taipei Fubon Bank
- Taiwan Cooperative Bank
- Taichung Bank
- First Commercial Bank Co Ltd
- Citibank Taiwan
- Sun Commercial Bank
- Chang Hwa Bank
- Yuanta Commercial Bank
- Cathay United Bank
- Chinatrust Commercial Bank
- Mega International Commercial Bank
- Taishin International Bank
- Shin Kong Commercial Bank
1. CTBC Bank
Established in 1966, CTBC has been ranked as the largest bank in Taiwan. It changed its name from China Securities and Investment Corporation, to become a subsidiary of CTBC Financial Holding Co. Ltd in the year 2002. Its headquarters are based in Taipei and offer employment to 11,000 professionals who execute different banking responsibilities in 150 branches in Taiwan and others numbering 108 overseas.
The overseas branches are located in the US, Canada, Japan, Indonesia, the Philippines, India, Thailand, Vietnam, Malaysia, Hong Kong, Singapore, China, Myanmar, and Australia. The total assets of the bank stand at $120.98 billion and in 2018; the bank closed the year with a profit margin of $793.49 million.
2. Deutsche Bank
Established in 1980, the bank operates as a subsidiary of Deutsche Bank AG, providing services that include consumer loans, mortgages, foreign exchange, loans, merger and acquisition advice, securities underwriting, asset management, and private banking amongst others. By the end of 2018, the banks’ revenue stood at $84.16 billion.
In 2014, Clearstream appointed Deutsche Bank AG’s branch in Taipei as an account operator in Taiwan. Deutsche Börse AG owns Clearstream, a financial services company that specializes in the settlement of securities transactions.
Deutsche Bank benefits from the increased volume of financial transactions because of operating Clearstream’s account in Taiwan. The appointment came after Deutsche Bank announced that it was collaborating with the Taiwanese Central Securities Depository (TDCC).
The collaboration with TDCC will create a direct settlement link, which will grant global investors and issuers access to Taiwan’s international bond market. The Taiwan money market includes bonds such as Formosa bonds. For Deutsche Bank, that will net new corporate customers.
3. Hua Nan Com Bank
This is the third-largest bank in Taiwan in terms of assets, and it provides its clientele with commercial banking products and services not only in Taiwan but also in other countries. It was established in 1919 and runs 186 branches in Taiwan, one offshore banking unit, and 12 overseas branches. In 2018 the total assets of the bank stood at $85.50 billion as well as the net profit stood at $469 million.
Hua Nan Com Bank is based in Taipei City, and the name is a literal Chinese translation of the word “Central Bank.” In 2020, it generated over TWD 12.46 billion in profits, and by the end of Q1 2021, it had a total of TWD 3.20 trillion in assets.
4. Bank of Taiwan
Established in 1946, this was the first biggest bank of Taiwan owned by the government. With growth and competition, the bank now operates a subsidiary, Taiwan Financial Holdings to be able to stand the competition amongst banks in Taiwan.
The bank owns 163 branches within Taiwan, 10 overseas branches, one sub-branch, two representative offices, one offshore banking unit, and three preparatory offices. Its headquarters are in Taipei and have a total of 8,000 employees. As of the end of 2018, its total assets stood at $163.85 Billion and a net profit of approximately $606.21 million.
5. Shanghai Commercial and Savings Bank
Established in 1915, the bank is headquartered in Taipei city and offers commercial banking services to retail and corporate customers. With 69 branches, it is a source of employment to 2,400 professionals. Additionally, it has seven overseas branches in Shanghai, Shenzhen, Shanghai Pilot Free Trade Zone, London, New York, San Francisco, and Los Angeles. The net total assets of the bank in 2018 were $56.54 billion and a net profit of $7.08 million.
6. ESUN Commercial Bank
This is one of the TOP banks in Taiwan founded in 1992 and expanded its enterprise into 139 branches across Taiwan and 28 in Los Angeles, Hong Kong, Singapore, China, Vietnam, Myanmar, Cambodia, Australia, and Japan. It provides deposits, loans, credit card management, foreign exchange, and other services to individuals, enterprises, and various other entities. The bank’s total assets are valued at NT$1.9tr ($57bn) as of 2016.
In 2020, NT$16.465 billion had a net profit of NT$16.465 billion. Furthermore, it had Earnings per share (EPS) of NT$1.43, Return on equity (ROE) of 9.45%, and Return on Assets (ROA) of 0.61%.
E.SUN prides itself on being able to adopt technology and successfully implement it to advance its business goals. For instance, it was able to adopt a core banking system that it had developed in-house within four years.
It runs the system under its digital banking brand, “e.Fingo.” Through e.Fingo, the bank offers integrated digital products to give its customers an excellent online banking experience.
In 2013, E.SUN bought a 70% equity share of United Cambodia Bank. And in the same year, it opened a representative office in Yangon, Myanmar, which it opened in 2013.
7. Land Bank Of Taiwan
Established after the end of the Second World War in 1945 as state-owned to facilitate land policy implementation. It has since grown into 150 domestic branches and seven foreign country branches, accounting for US$91.78 billion total asset value and a net profit of US$357.82 million via a 2016 report. It provides deposits, loans, foreign exchange, fund management, and other services.
8. Taipei Fubon Bank
Established as a result of a merger between Fubon Bank and Taipei Bank in 2005, it is solely owned by Fubon Financial Holdings and based in Taipei.
The bank’s operations are segmented into five sections— The Banking Business segment, The Property and Casualty Insurance Business segment, The Life Insurance Business segment, The Securities Business segment, and The Other segment. It has 127 branches and 5 overseas branches, accounting for US$218.16 billion in total assets and a net profit of US$1.66 billion reported in 2016.
9. Taiwan Cooperative Bank
Founded in 1946, it is recognized as having the most branches out of all Taiwan’s biggest banks 301 branches across the country. It provides corporate banking, retail banking, treasury management, offshore banking, E-banking, credit card, wealth management services, deposits, loans, foreign exchange services and financing services through its segmented operational system — The Deposit and Loan Section, The Funding Section, The Offshore Section, The Trust Section, and The Other segments. In 2016 the bank reported a total value of US$443.20 billion in assets and US$94.67 billion net profit.
10. Taichung Bank
Headquartered in Taichung, Taiwan, it was founded in 1953. The bank operates checks, current deposits, corporate financing, property loans, micro-credit loans, automobile loans, participating loans, deposits, investments, e-banking, property trusts, and security through nine operational businesses.
It includes Deposit businesses, Corporate Finance businesses, Consumer Financial businesses, Foreign Exchange businesses, Wealth Management businesses, Electronic financial businesses, Trust, Investment businesses, and Financial Commodities Marketing businesses. As of 2015, the bank reported revenue of NTD 4.14 billion and net income of NTD 3.40 billion.
11. First Commercial Bank Co Ltd
With subsidiaries all across the globe, First Commercial Bank Co Ltd was created in 1949. Although this bank generally belongs to the commercial banking sector, it offers financial services such as loans, foreign exchange, checking, and savings accounts to commercial and individual clients. First Commercial Bank Co Ltd has its headquarters in New Taipei City, and 190 branches within the country, with almost 8,000 employees on its payroll.
At the end of 2021, the bank had total assets of NTD 3,588,455 million, down from 2020’s NTD 3,366,032 million. However, the total liabilities increased to NTD 3,364,915 million, up from the previous year’s NTD 3,146,719 million.
The bank had total equity of NTD 223,540 million, up from the previous year’s NTD 219,313 million. It also posted good operating results in 2021. The profit before tax was NTD 20,918 million. Profits after tax for 2021 were NTD 17,652 million, up from NTD 15,683 million in 2020.
The bank reported the 2021 net interest revenue as NTD 32,263 million, while the net revenue other than interest was NTD 32,263 million. Their total income tax expense for 2021 was NTD 3,266 million.
12. Citibank Taiwan
Citibank Taiwan is a subsidiary and part of the giant Citibank Group with branches all around the world. Since its creation in 1964, the bank has offered different banking services such as deposits, loans, and investments to institutions, consumers, and government agencies. The bank’s head office is situated in Taipei, the capital of Taiwan. It offers direct and indirect employment to thousands of individuals.
Amongst the foreign-owned banks, which operate in Taiwan, Citibank is considered the most profitable. The bank made a profit of over $400 million before tax in the last fiscal year.
13. Sun Commercial Bank
The Sun Commercial Bank is another largest bank in Taiwan, which began operations in 1992. The bank belongs to a more substantial financial corporation and currently operates as a subsidiary of that institution. It provides several banking services, including credit and debit card management, loan services, deposits, foreign currency provision, and much more.
With its head office in the Taiwanese capital, the bank has over 100 branches across the country. It has international outlets in Hong Kong, Australia, Cambodia, America, and a handful of regional states. Sun Commercial bank averages a yearly profit of about $500 million and an asset base that exceeds $60 billion.
14. Chang Hwa Bank
Founded in 1905, Chang Hwa Bank has its origins when the Japanese were ruling Taiwan. The bank began operating in Changhua before it was moved to Taichung, five years after its establishment. The end of the Second World War paved the way for China to quickly take over the bank shares that belonged to the Japanese. Before the end of the millennia, the Taiwanese Government made public its shares in the bank. As it stands at the moment, the bank has been operating as a private institution for the past two decades.
Chang Hwa Bank offers commercial, retail, and individual financial services to both companies and individual clients. The bank currently has 170 branches across Taiwan and about a dozen international offices.
15. Yuanta Commercial Bank
Founded in 1992, the bank was initially called the Asia Pacific Commercial Bank. Between the transition of ownership, the bank had undergone several other name changes in the process of its transformation into what it is today. Yuanta Commercial Bank currently has over 70 domestic branches and a couple of international offices in Mainland China and Hong Kong. The bank has a total asset valued at about $40 billion and a loan portfolio that exceeds $23 billion.
16. Cathay United Bank
Within Taiwan, Cathay United Bank is considered the biggest private bank operating in the country. Established in 1975, this bank has its corporate headquarters in Taipei. As such, this institution is seamlessly able to provide banking services and products like wealth management, savings account, current account, mortgages, loans, and much more for communities, individuals, and enterprises. Furthermore, Cathay United Bank through several upgrades is now capable of providing personalized banking and high-quality services to all its clients. In addition, it has several ATMs and branches across Taiwan. Like most banks within this island, Cathay United Bank prioritizes servicing its stakeholders and clients.
17. Chinatrust Commercial Bank
From 1966 to date, Chinatrust Commercial Bank has been operating all across Taiwan. In addition, this bank has its headquarters out of Taipei, the main city of the island with several ATM points and branches. For clients banking with this institution, they are capable of accessing loans, retail services, wholesale services, and much more. In the last few years, this bank has tried to establish strong ties with the communities, which is in line with eastern culture. Besides local branches, this bank has a handful of foreign affiliations within Mainland China, Asia, and other countries.
18. Mega International Commercial Bank
Mega International Commercial Bank started functioning in 1991 in Taipei. Since its creation, this institution has grown to become among the top banking platforms in Taiwan. As its name implies, this bank provides individual and corporate clients with a arrange of services, which include personalized banking, savings accounts, current accounts, and investment options. As a subsidiary of its holding company, Mega International Commercial Bank has over 100 branches and ATM points all across the island. Similarly, it has several international offices that cater to citizens and foreigners. Over the years, this institution has grown to become the only domestic outlet for the settlement of top international currencies as agreed by the Bankers Association of Taiwan.
19. Taishin International Bank
Taishin International Bank is a bank with modern history. As such, it was only established in 1992. Since then, it has been operating out of Da’an, Taipei. In addition, this financial institution has undergone a few transformations. One of these changes is its merger with Dah An Commercial Bank, which occurred in 2002. At the moment, Taishin International Bank operates like other banks by providing banking services, including:
- Investment management;
- Card management;
This bank also operates a functional mobile and internet banking system, which gives customers access to all these services.
20. Shin Kong Commercial Bank
Opened in 2002, Shin Kong Commercial Bank has its headquarters in Taipei. It provides customers with basic banking services, which include savings accounts, current accounts, loans, wealth management, mortgage, and card services. Furthermore, this institution has upgraded its services to provide mobile banking, internet banking, money transfer, and other global e-banking solutions. For customers that bank with this institution, finding a branch or ATM point is not an issue as there are dozens of outlets within the self-governing island.
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