Top List of Banks in Taiwan
Taiwan is a world-class financial hub in Asia, with the country's top banks offering a range of services to individuals and businesses. Taiwan's GDP has been growing at an average of 4% per year, making it one of the world's fastest-growing economies. Taipei is a major center for multinationals and large corporations, and many of the top US and European banks have branches in the city. Citibank, Barclays, HSBC, Standard Chartered, and BNP Paribas.
There are also plenty of strong local players that offer retail banking products to consumers and business banking to small and medium-sized enterprises (SMEs). Some of the best banks for your investment in Taiwan are as follows:
CTBC Bank is a bank headquartered in Taiwan. As of December 2018, it was one of Taiwan's largest credit card issuers. It was ranked among the top 1000 world banks in terms of Tier 1 capital by The Banker in 2018. CTBC Bank offers a wide range of banking products and services to meet customers' needs, including commercial banking, personal banking, wealth management, foreign exchange, treasury & markets, and others.
As of December 31, 2020, CTBC had TWD 6,616.66 billion (USD 231 billion) total assets. The Bank operates branches throughout Taiwan as well as branches and subsidiaries overseas. It also has over 10,000 employees and 156 branches globally.
Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany. The Bank is operational in 58 countries with a large presence in Europe, the Americas, and Asia. As of April 2018, Deutsche Bank was among the 17 largest banks globally by total assets. In the financial year 2021, the Bank had an asset net of €1.324 trillion, and back in the year ended 2020, the Bank had a total of 84659 employees across its 1,931 branches that it initially had as of 2019.
Deutsche Bank provides a comprehensive range of products to corporate clients, institutional clients, and high net worth individuals through our branch in Taipei, including Correspondent banking services, Foreign exchange and derivatives, Capital markets products, Cash management services, and trade finance services.
Hua Nan Com Bank
Hua Nan Commercial Bank was established on October 15, 1992.
The Bank has 186 domestic branches and seven overseas branches in the United States, Japan, Singapore, and Hong Kong and representative offices in Shanghai, Beijing, Chongqing, and Dalian. Its total assets were worth 906,875 billion (2020), and it also had a total of 7,908 employees (2020) distributed among its branches. The Bank provides personal banking, corporate banking, wealth management, and online banking services.
Hua Nan Commercial Bank is a full-service commercial bank. The Bank provides a range of banking and related financial products and services, including deposits, loans, credit cards, financing, cash management, and securities brokerage services.
It also offers foreign exchange transactions, bill acceptance services, domestic and international remittances, letter of guarantee issuance, trade financing, and investment advisory services.
Bank of Taiwan
There are 169 domestic branches in Taiwan; one overseas branch in Los Angeles, USA; one representative office in New York City, USA; two representative offices in Tokyo and Osaka, Japan; two representative offices in Seoul and Busan, South Korea; one representative office in Hanoi, Vietnam; and three subsidiaries: Bank SinoPac (formerly Pacific Commercial Bank), Taishin International Bank and Polaris Securities. The Bank currently focuses on retail banking services such as deposit accounts, credit cards, wealth management products for individual customers. It also provides investment banking services, including securities underwriting, loans syndication, and advisory services for corporate clients. As of 2017, the Bank had total assets of NTD 4,929 billion, and the Bank had also employed not less than 8,122 people.
Shanghai Commercial Bank Limited (SCB)
Shanghai Commercial Bank Limited (SCB) is a licensed bank incorporated in Hong Kong. It was founded as Shanghai Commercial & Savings Bank and traced its roots to November 12, 1950. The Group's principal business is commercial banking, where we provide a wide range of financial services to small and medium-sized enterprises (SMEs) and individuals. The Group also provides life insurance, general insurance, and investment advisory services. The Group is one of the largest listed companies in Hong Kong, with total assets of HK$231.6 billion at the end of 2020. We have around 7,400 staff and a network of around 280 branches worldwide.
ESUN Commercial Bank
The Bank was established in April 1989 as a wholly-owned subsidiary of the Huayu Group. In May 1992, ESBC became the first privately owned domestic Bank in Taiwan listed on the Taiwan Stock Exchange. The ESUN Commercial Bank Limited is the fourth largest Bank in Taiwan, with total assets of HK$321.8 billion in 2020. It was founded in 1989 and is headquartered in Taipei. It provides a wide range of commercial banking services, including personal banking, corporate banking, investment banking, and international trade finance. It has 139 branches in Taiwan and 28 branches and subsidiaries in 9 countries and jurisdictions (as of 2020): Australia, China, Hong Kong, Indonesia, Japan, Malaysia, Singapore, Thailand, and Vietnam. As of the year ended 2021, the Bank had 8,961 employees.
Land Bank of Taiwan
The Land Bank of Taiwan is a Taiwanese government-owned financial institution headquartered in Taipei. The central Bank of Taiwan, the Central Bank of the Republic of China, is also located in Taipei. The Bank has 148 branches on the island of Taiwan and 143 overseas branches in 36 countries. Its largest branch is located at Nanjing East Road and Zhongshan North Road in Taipei City. The Bank is estimated to have had 5,754 employees as of 2021. The Bank's total assets were also estimated to be NT$1.9tr ($57bn) as of 2016. The main purpose of the Bank is to provide financial services to farmers and fishers, including loans and insurance. The Bank also provides financial services for rural development, cooperation, and agricultural restructuring.
Taipei Fubon Bank
Taipei Fubon Bank is a large bank in Taiwan and one of the major subsidiary companies of Fubon Financial Holding Company. The Bank is incorporated in Taiwan, maintaining overseas branches in California, New York, and Tokyo. Taipei Fubon Bank offers personal, commercial, investment, and asset management products and services. The company has 135 domestic branches in Taiwan. The company was established in 1996 and operated over 135 branches in Taiwan. The Bank boasts 35 employees, and as of September 30, 2016, the Bank had approximately NT$3.599 trillion. Taipei Fubon Bank is a subsidiary of Fubon Financial Holding Co.; The main activities include life insurance, banking, and asset management. Corporate services include securities custody and corporate lending.
Q. Can a foreigner open a bank account in Taiwan?
A. Yes, as long as you have an Alien Resident Certificate (ARC), you can open a bank account and deposit money.