Corporate Profile


Bank SinoPac is a wholly owned subsidiary of SinoPac Holdings, and was created in the merger of equals between Bank SinoPac under SinoPac Holdings and International Bank of Taipei on November 13, 2006. Bank SinoPac provides the best financial services with an all-encompassing business network and highly innovative product lines, establishing the first Chinese financial brand with the vision of "achieving wonderful life with financial services, and providing flexible financial total solutions to customers."

Taipei Mutual Loans and Savings Co. was inaugurated on May 4, 1948. It was restructured into Taipei Business Bank in 1978 and upgraded to a commercial bank named International Bank of Taipei on May 14, 1998. Over decades of development, International Bank of Taipei has focused on serving SMEs and securing a solid customer base. International Bank of Taipei was merged with SinoPac Holdings through a share swap, officially becoming a wholly-owned subsidiary of SinoPac Holdings on December 26, 2005.

Since its inception on January 28, 1992, Bank SinoPac has been committed to financial product innovation and service integration. Bank SinoPac, SinoPac Securities, and SinoPac Securities Co., Ltd. merged on May 9, 2002, forming SinoPac Holdings. On June 20 of the same year, Bank SinoPac was made a wholly owned subsidiary of SinoPac Holdings.

SinoPac Holdings changed its Chinese name into Yong Fong Holdings on July 20, 2006. To integrate banking resources and optimize economies of scale, Bank SinoPac and International Bank of Taipei were merged on November 13 of 2006, with the former being the surviving entity. Bank SinoPac subsequently made adjustments to strengthen the goal of promoting a flat organization and cost reduction plan to enhance operational efficiency and improve cost–expense structures.

As part of the group's organizational restructuring and adjustment to investment portfolios, Bank SinoPac completed the dissolution and liquidation of SinoPac Financial Consulting Co. on March 13, 2009. On June 1 of the same year, Bank SinoPac acquired SinoPac Card Services, another wholly owned subsidiary of SinoPac Holdings, by paying consideration in cash. The merger and acquisition proved effective in raising capital adequacy ratio, integrating the group's resources, and enhancing overall performance. Without undermining shareholders' interests, Bank SinoPac sold its stake in SinoPac Leasing to SinoPac Holdings on December 3, 2009 in an effort to help the SinoPac Group maximize the function of its assets in enhancing overall management efficiency.

Bank SinoPac (China), the bank's subsidiary, kicked off operation in 2014. Headquartered in Nanjing, Bank SinoPac (China) is the first Taiwanese-invested bank incorporated in China, providing trade finance, working capital finance, fund management, and other financial services. Bank SinoPac(China) officially launched RMB business in May, 2016. It currently consists of two branches - Shanghai and Guangzhou, which officially opened for business on August 18, 2016 and August 9, 2017, respectively. These two branches have set a new milestone for the SinoPac's business in China.

To enhance the bank's capital adequacy ratio, Bank SinoPac issued one tranche of unsecured perpetual non-cumulative subordinated financial debentures in 2017, totaling NT$3.00 billion in value, and also two tranches of unsecured subordinated financial debentures totaling NT$2.99 billion as mid- and long-term funding for business expansions. In addition, in response to the government's green energy policy, it is the first to issue 30-year unsecured general financial debentures to finance the solar industry, totaling US$45 million. As of the end of 2017, Bank SinoPac and its subsidiaries have hired 5,495 employees; their paid-in capital topped NT$86.1 billion and assets amounted to NT$1,433.2 billion, boasting 18 divisions and 4 office. On top of 125 domestic branches (including the Banking Divison), the bank has multiple overseas outlets, including Hong Kong Branch, Kowloon Branch, Macau Branch, Los Angeles Branch, Ho Chi Minh City Branch, and Vietnam Representative Office, and the China subsidiary, Bank SinoPac (China) Limited and its Branch, 9 outlets in total. Bank SinoPac has also invested in SinoPac Capital (Hong Kong), SinoPac Insurance Brokers (Hong Kong)  simultaneously offering customers a comprehensive range of services through a multidisciplinary team of professional experts. The board of directors of Bank SinoPac approved the sale of subsidiary US-based Far East National Bank to Nasdaq-listed Cathay General Bank (NASDAQ: CATY), on July 8, 2016. This transaction was approved by the regulatory authority on July 7, 2017 and completed following an equity sale and purchase agreement.