Taiwan is officially called the Republic of China (ROC). It is situated in East Asia and is the biggest mountainous island country. Taiwan is in the South China coastal area and the northern part of the Philippines. The island has a maritime border with Japan, China and Phillippines. Taiwan’s population is around 23.78 million (2018) which is the most populous country in the world. Taipei is the biggest capital city of the ROC.

The central bank is the central monetary authority of The Republic of China (Taiwan) and it was established in 1924. The central bank of the Republic of China (Taiwan) officially converted and began operation with issuing currency as the central bank of Taiwan since 2000. Officially Taiwan’s currency is the New Taiwan dollar and the currency started since 1949. The central bank of Taiwan is overseeing and manages all financial organizations and banks in order to issue currency, ensure price stability, controls foreign exchange and implement any government policies.

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Central Bank of the Republic of China (Taiwan)

At a glance the Central Bank in Taiwan details:

Headquarters:    Zhongzheng, Taipei
Established:       1924 (in Guangzhou)
Ownership:        100% state ownership
Governor:           Yang Chin-long
Central bank of  Republic of China
Currency:           New Taiwan Dollar
Bank rate:         1.5% (22 May 2016)
Website:            www.cbc.gov.tw

State-Owned Institutions

• Agricultural Bank of Taiwan
• Export–Import Bank of the Republic of China

Postal Savings Bank

• Chunghwa Post

Taiwan-based banks

• Bank of Taiwan
• Land Bank of Taiwan
• Taiwan Cooperative Bank
• First Commercial Bank
• Hua Nan Commercial Bank
• Chang Hwa Bank
• Citibank Taiwan
• Shanghai Commercial and Savings Bank
• Taipei Fubon Bank
• Taipei Star Bank
• Cathay United Bank
• Bank of Kaohsiung
• Mega International Commercial Bank
• O-Bank
• Taiwan Business Bank
• Standard Chartered Bank (Taiwan)
• Taichung Bank
• King’s Town Bank
• HSBC Bank (Taiwan)
• Hwatai Bank
• Taiwan Shin Kong Commercial Bank
• Sunny Bank
• Bank of Panshin
• COTA Commercial Bank
• Union Bank of Taiwan
• Far Eastern International Bank
• Yuanta Bank
• Bank SinoPac
• E.SUN Commercial Bank
• KGI Bank
• DBS Bank (Taiwan)
• Taishin International Bank
• Jih Sun International Commercial Bank
• EnTie Commercial Bank
• CTBC Bank – China Trust
• Hualien Business Bank – closed 2007

Mainland China-based banks

• Bank of China
• Bank of Communications
• China Construction Bank

Foreign banks

• ABN AMRO
• American Express Bank
• Australia and New Zealand Banking Group Limited
• BBVA
• Bangkok Bank
• Banque de l’Indochine
• Barclays Bank
• BNP Paribas
• Bank of America
• The Bank of East Asia
• The Bank of New York
• The Bank of Tokyo-Mitsubishi UFJ
• Calyon
• Citibank
• DBS Bank
• Deutsche Bank
• Fortis Bank
• HSBC
• ING Group
• JPMorgan Chase
• Metropolitan Bank and Trust Company
• Mizuho Corporate Bank
• Natixis
• Oversea-Chinese Banking Corporation
• Société Générale
• Standard Bank of South Africa
• Standard Chartered Bank
• State Street Bank and Trust Company
• Sumitomo Mitsui Banking Corporation
• UBS AG
• United Overseas Bank
• Wells Fargo Bank

For those considering a career banking sector in Taiwan, this is the best list of Taiwan’s top banks is a useful guide on where to start. To get more information, please refer to our list of financial institutions in Taiwan.

CTBC Bank  The bank was established in 1966 and its headquarters is located in Taipei. CTBC bank is one of the biggest banks in Taiwan. In 2002, The bank became a subsidiary of CTBC financial holdings Co from the older name China Securities and Investment Corporation. The bank is serving by 12000 employees through 150 branches in Taiwan and 110 foreign outlets. Foreign outlets countries are Australia, Singapore, Myanmar, Malaysia, Hong Kong, Vietnam, Japan, Canada, Philippines, India, Thailand and the United States.

Deutsche Bank  Based in Taipei city, the bank was established in 1980. The bank started its operation as a subsidiary of Deutsche Bank AG. The bank serves foreign exchange, mortgages, consumer loans, merger and acquisition advice, wealth management and private banking. There are 180 employees are serving the customers.

Bank of Taiwan  The bank was established in 1946 and its headquarters is located in Taipei. Bank of Taiwan is a first state-owned bank. The bank has approximately 8000 employees are serving the customers through 165 branches and 10 foreign branches. The bank also operates one sub-branch, one offshore unit, two representative offices and three preparatory offices.

Taipei Fubon Bank  The bank is also a subsidiary of Fubon Financial Holdings Co. Ltd. Fubon bank was created a merger bank between Taipei bank and Fubon bank. The bank was established in 2005 and its headquarters is located in Taipei. There are approximately 7000 employees are serving the customers through 127 branches and five overseas branches and an offshore unit.

Hua Nan Com Bank  The banks were established in 1919 as a commercial bank. The bank has approximately 7000 employees are serving through 186 branches across the country. The bank also operates through one offshore unit and 12 overseas branches.

Citibank Taiwan  The bank was established in 1964 and its headquarters is located in Taipei. The bank provides consumer banking, corporate banking, Governmental and organizational banking. The bank has 4000 employees are serving across the country’s customers.

Taiwan Cooperative Bank  The bank was established in 1946 and its headquarters is located in Taipei. It is one of the biggest banks in Taiwan. There are 8500 employees are serving through 301 branches all over the country. The bank provides retail banking, corporate banking, offshore banking, treasury management, E-banking, foreign exchange, loans, trust and insurance section, funding section, savings and deposits.

These are the best and selected banks in Taiwan. You can visit the site to gather more information. All links and official information are included herewith.