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Bank Profile
Bank Profile
  Taiwan Cooperative Bank (TCB) was established in 1946 through the reorganization of the “Taiwan Industry Bank” in the Japanese-occupation era. Total equity in the amount of 25 million Old Taiwan Dollars was provided by the Taiwan Provincial Government along with cooperative groups, farmers’ associations, fishermen’s associations, and irrigation associations. The equity capital was divided into 250 thousand shares, with each one worth of NT$100. The government held 150 thousand shares and each group was allotted 10 thousand shares each. Throughout the past 60 years, the operating scale of the Bank has been constantly expanded thanks to the efforts of the entire staff, and at the end of 2012 its equity stood at NT$66.439 billion.
  TCB achieved corporate status under the provisions of Article 52 of the Banking Law in May 1985. It was reorganized as the Taiwan Cooperative Bank Co., Ltd. on Jan. 1, 2001; went public in June 2003; was listed on the stock market on Nov. 17, 2004; underwent a Chinese name change in 2006; and merged with The Farmers Bank of China on May 1 of the same year. As of Dec. 31, 2012, the Bank boasts a total of 299 domestic and overseas branches (including the Department of Business, Offshore Banking Branch, Manila Offshore Banking Branch, Los Angeles Branch, Seattle Branch, Hong Kong Branch, Sydney Branch, Suzhou Branch, and Beijing Representative Office), creating the most extensive network of branches among all Taiwan banks and positioning itself as a market leader in share of deposits and loans. According to the list of the worlds top 1,000 banks by asset size, published in the July 2012 issue of The Banker magazine, TCB ranked 162nd in the world and 2nd in Taiwan, after only the Bank of Taiwan. In the global ranking of the top 500 banking brands, published in February 2012, the TCB ranked 394th in the world and No. 1 in Taiwan, making it Taiwans top banking brand.
  On Dec. 23, 1992, TCB, Bank of Taiwan, Land Bank of Taiwan, and Taiwan Business Bank jointly established the United Taiwan Bank (UTB) in Belgium, with TCB holding 70% of shares. In Oct. 2009, TCB acquired a 10% stake of UTB from Taiwan Business Bank. The United Taiwan Bank underwent capital restructuring on July 20, 2010 and increased its capital by NT$786 million (20 million Euros), purchased by TCB for a total investment amount of NT$1.812 billion and 90.02% of shares. In addition, TCB established the solely-owned Co-operative Asset Management Co. on Oct. 18, 2005 and, on Mar. 22, 2006, boosted its equity to a total of NT$3.5 billion. On Nov. 23, 2005, the soley-owned Co-operative-I Asset Management Corp. was established with an investment of NT$500 million.
  On Nov. 25, 2005 the Bank established the soley-owned Cooperative Insurance Brokerage Co. with an investment amount of NT$10 million. Besides, in order to cooperate with the regulatory policies to stabilize the financial orders, the Taiwan Cooperative Bills Finance Corporation was established with an investment amount of NT$529.5 million via Debt-for-Equity Swap. Moreover, to meet the minimum capital requirements established by the competent authority, Taiwan Cooperative Bills Finance Corporation had a capital injection of NT$1.5 billion in cash in March 2009, which was totally provided by TCB. TCB also acquired the shares held by the Bank of Panhsin on Dec. 30, 2010, for a total investment amount of NT$2.2985 billion and 94.76% shareholding in the bills finance company.
  On Jan. 28, 2010, TCB and BNP Paribas Assurance established the BNP Paribas Assurance TCB Life Insurance Co., a joint venture in which TCB holds 51% of shares, worth NT$1.02 billion, and BNP Paribas Assurance holds 49% of shares. In accordance with the regulations of the Insurance Act and regarding operational demand, the new company required a cash capital increase of NT$2 billion, which was provided according to share percentage by TCB and BNP Paribas Assurance, resulting in a total investment amount of NT$2.04 billion for the Bank with the shareholding ratio unchanged. On Feb. 1, 2011, TCB and BNP Paribas Investment Partners established the BNP Paribas TCB Asset Management Co., a joint venture in which TCB holds 51% of shares, worth NT$153 million, and BNP Paribas Investment Partners holds 49% of shares.
  To integrate the Groups resources to make full use of operating synergies and reinforce business development, TCB, the Co-Operative Asset Management Corp., and the Taiwan Cooperative Bills Finance Corp. jointly established Taiwan Cooperative Financial Holding Co.(TCFHC) on Dec. 1, 2011 through a share swap. TCFHC thus became the TCBs sole (100%) shareholder. To achieve the cross-industry condition for holding companies, TCBs securities department was spun off as the Taiwan Cooperative Securities Corp. on Dec. 2. For the effective management of the Group’s resources, the Bank transferred its shares in the BNP Paribas Cardif TCB Life Insurance Co. and BNP Paribas TCB Asset Management Co. to TCFHC on Apr. 3, 2012, making the two companies as subsidiaries of TCFHC.TCB's subsidiaries currently include the United Taiwan Bank, Cooperative Insurance Brokers Co. 
  According to the TCB's Articles of Incorporation, the Bank is charged with carrying out the missions of operating a banking business, developing national economic construction, and providing financial adjustment for the farming and fishery industries. In addition to providing financing for cooperative enterprises, the farming and fishery industries, and small and medium enterprises, the TCB also offers deposit, loan, and foreign exchange services for business enterprises in general to facilitate funds utilization and promote overall economic development. This makes TCB a consolidated international bank for farming, fishery, cooperative, and business financing.