Corporate Profile
TOPBank SinoPac is a wholly owned subsidiary of SinoPac Holdings Co., Ltd. (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 to its customers with a comprehensive business network and highly innovative product lines. The Bank is striving to realize the vision of "Together, a better life," to make Bank SinoPac the leading brand among Chinese-speaking financial institutions.
Taipei Mutual Loans and Savings Co. was inaugurated on May 4, 1948. It was restructured into Taipei Business Bank in 1978, then upgraded to a commercial bank named International Bank of Taipei on May 14, 1998. Over decades of development, International Bank of Taipei focused on serving SMEs and secured 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. On May 9, 2002, Bank SinoPac, through a share swap, merged with SinoPac Securities, and SinoPac Securities Co., Ltd., forming SinoPac Holdings. On June 20, 2002, Bank SinoPac was made a wholly owned subsidiary of SinoPac Holdings.
SinoPac Holdings changed its Chinese name to "Yongfeng 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, 2006, with the former being the surviving entity. Bank SinoPac subsequently made adjustments to its strategy and strengthened its organization, with the goal of promoting a flat organization and a 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, on March 13, 2009, Bank SinoPac completed the dissolution and liquidation of SinoPac Financial Consulting Co. On June 1, 2009, 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 the 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.
Headquartered in Nanjing, Bank SinoPac (China) officially launched business in 2014. It currently has branches in Shanghai, Guangzhou, and Chengdu, and Nanjing, respectively (four in total), providing wide range of financial services to both enterprises and individuals.
To enhance the capital adequacy ratio, Bank SinoPac issued NT$5 billion in subordinated bank debenture in 2022, plus NT$2 billion in senior unsecured bank debenture (Green Bond) in response to the government's Sustainable Financial policy and duly implement the action plan of Sinopac Holdings’ sustainable development strategy, making the total at NT$7 billion. As of the end of 2022, Bank SinoPac and its subsidiaries had 6,554 employees; their paid-in capital reached NT$90.3 billion and assets amounted to NT$2.4034 trillion. Bank SinoPac has 22 divisions and one office. In addition to 125 domestic branches (including the Department of Business) and an Offshore Banking Unit, Bank SinoPac has multiple overseas branches, including branches in Hong Kong, Kowloon, Macau, Los Angeles, and Ho Chi Minh City, as well as a Vietnam Representative Office. Bank SinoPac has also invested in subsidiaries, including SinoPac Insurance Brokers and Bank SinoPac (China), offering customers a full range of financial services through professional division of labor and diversified channels.