Commercial banksCommercial banks (history (history etc.)etc.)

The beginning of financial institutions in The beginning of financial institutions in Taiwan Taiwan

from 1895 signed the Treaty of from 1895 signed the Treaty of Shimonoseki Shimonoseki

station was established in Osaka neutral station was established in Osaka neutral bank bank

(now the Sanwa Bank) Keelung police (now the Sanwa Bank) Keelung police station then station then

Japanese banks have set up the police Japanese banks have set up the police station station

in Taipei, and in 1899 changed to Bank of in Taipei, and in 1899 changed to Bank of Taiwan.Taiwan.

1.1. Public Age (20 years): Public Age (20 years): 1945 (the recovery of Taiwan) 1945 (the recovery of Taiwan) to 1964to 1964

In 1945, after the retrocession of Taiwan,

operated by the Japanese Government to

take over Bank of Taiwan Co., Ltd., and was

reorganized as 『 Bank of Taiwan 』 , this is

the first in Taiwan to establish a public bank.

Others such as First Commercial Bank, Others such as First Commercial Bank, Hua Nan Hua Nan

Commercial Bank, Chang Hwa Commercial Bank, Chang Hwa Commercial Bank Commercial Bank are in a period of restructuring or merger are in a period of restructuring or merger of the of the

establishment. In this period, the banks establishment. In this period, the banks are mainlyare mainly

engaged in general commercial banking engaged in general commercial banking business.business.

2. Foreign banks to enter the age 2. Foreign banks to enter the age (20 years):(20 years):

1965-19841965-1984

After 1961, Taiwan's economic stability and trade growth, many foreign bank became a branch of the target. December 1964 the Government published the "line of foreign banks set the terms and scope of business", since many foreign banks have gradually come to Taiwan to set up branches.

These foreign banks are not only These foreign banks are not only introduced introduced

a number of large foreign currency a number of large foreign currency marketmarket

for domestic goods and their liquidity, for domestic goods and their liquidity, and provide and provide

banks with new modes of operation.banks with new modes of operation.

3. Liberalization period (5 years): 3. Liberalization period (5 years): 1985-19901985-1990

Financial services liberalization, and approved the first foreign bank to relax outside in Taipei set up a second branch, and to allow domestic banks to set up the trust department, and actively develop the establishment of new banks opening up the program, in April 1990, set scheduled commercial banks to set standards, the official opening of new private banks.

4. Privatization, international age (15 4. Privatization, international age (15 years): years): AD 1991 to dateAD 1991 to date

In the opening of new banks for 1990, after several months of review, the Treasury finally on 27 June 1991, announced the approval of 15 new private banks to be established. Approved the establishment of new banks, is representing a new era of the beginning of the financial industry, but also the pace of liberalization of the financial industry a step forward.

The history of First BankThe history of First Bank

First Commercial Bank is the outgrowth of merger of the Savings Bank of Taiwan (established in 1899).

In 1949, the Bank was renamed the First Commercial Bank of Taiwan. The rate of progress has steadily risen in the last decade as Taiwan trade volume accelerated. For Simplification and internationalization, the name was shorten to first Commercial Bank in 1976.

In 1967, the Bank obtained its foreign exchange business license and became one of the major foreign exchange banks in Taiwan. The Bank installed on-line system in 1978 and joined the SWIFT in 1985.

The bank offers the business service areas of export, import, remittance, foreign currency deposits, and margin trading, etc. The Bank has established a correspondent network with more than 1,600 major banks all over the world. This extensive business network at home and abroad has facilitated the Bank to offer worldwide services to customers.

In January 1998, Taiwan Provincial Government

released part of its ownership and reduced the

total government-owned shares of this bank to

39.36 %.

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