Our Story
SinoPac Holdings traces its history back to May 4th, 1948 when the Taipei Mutual Savings and Loan Company was established. In 1978, the Company was reorganized as the Taipei Business Bank. On May 14, 1998, the Company was further reorganized as the International Bank of Taipei. Over the decades, our history has been between focused on servicing small and medium enterprises, establishing a solid foundation and customer base. After mergers and reorganizations, on August 26th, 2005, International Bank of Taipei became a subsidiary of SinoPac Holdings. On July 20th, 2006, the Chinese Name was renamed to the current “SinoPac Holdings”.
In 1949, the government issued a new currency, at a rate of 1 New Taiwan Dollar to 40,000 Old Taiwan Dollars, resulting in paid-in capital of only 500 New Taiwan Dollars. At the time, banking was an emerging industry and capital raising was difficult. In September 1949, a first fund raising to NT$10,000 occurred, and in December 1949, a second fund raising to NT$200,000 was completed. Moreover, invitations were extended for social and business leaders at the time to join the board of directors and supervisors, establishing a solid base for future development. On April 18, 1983, a public offering of our stock occurred with us becoming a main board listed company, with a capital base of NT$540 million dollars.
Our Company was the first privately-owned small and medium business bank, starting from rotating savings. At the time, the client base of Mutual Savings was primarily low income citizens, a typical mass market national bank model. During the Taipei Mutual Saving and Loan Company period, the promotion of national savings, providing mass market finance was the goal. After reorganization as a Small and Medium Bank, to mission was to promote economic growth and national financial policy, and provide small and medium enterprise financing. After reorganization as a commercial bank, further support of national policy of internationalization of finance, democratic policies, shifted our mission towards providing the broader community with comprehensive financial services.
