Bank Sinopac
Encyclopedia
Bank SinoPac, or SinoPac Financial Holdings Company Ltd, is a Taiwan
-based banking holding company which operates through 18 divisions and 129 branches in Taiwan
.
and major Asia
n cities; however, SinoPac is unique in its foresight in building on-the-ground business in the US and China
. Far East National Bank
, a wholly owned California
chartered bank was acquired in 1997; SinoFirst, located in Shanghai, China, was acquired in late 1990s.
. Bank SinoPac is a subsidiary of SinoPac Financial Holdings which has a market capitalization of around $3.4 billion USD.
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
-based banking holding company which operates through 18 divisions and 129 branches in Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
.
History
The bank was founded by Samuel Yin and Paul Lo in 1992 as Taiwan liberalized its banking regulations. As Taiwan continued to liberalize its financial market, SinoPac acquired a securities business from the Hong family of local fame in early 2000's. In late 2005, SinoPac merged with the International Bank of Taiwan (IBT). SinoPac, like many other Taiwanese financial institutions, has branches and operations in the United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and major Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
n cities; however, SinoPac is unique in its foresight in building on-the-ground business in the US and China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
. Far East National Bank
Far East National Bank
Far East National Bank was founded in 1974 as the first federally chartered Asian American bank in the United States. FENB has over 350 employees and total assets exceeding US$1.7 billion. It became a wholly owned subsidiary of Taiwan's Bank Sinopac in 1997. Services are provided through fifteen...
, a wholly owned California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
chartered bank was acquired in 1997; SinoFirst, located in Shanghai, China, was acquired in late 1990s.
Current status
SinoPac’s total assets stood at about US$40 billion. It’s stock is traded on the Taiwan Stock ExchangeTaiwan Stock Exchange
The Taiwan Stock Exchange Corporation is a financial institution, located in Taipei 101, in Taipei, Taiwan. The TSEC was established in 1961 and began operating as a stock exchange on 9 February 1962...
. Bank SinoPac is a subsidiary of SinoPac Financial Holdings which has a market capitalization of around $3.4 billion USD.
See also
- List of banks in Taiwan
- Republic of ChinaRepublic of ChinaThe Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
- Economy of TaiwanEconomy of TaiwanTaiwan has a developed capitalist economy that ranks as the 19th largest in the world by Purchasing power parity and 24th in nominal GDP of investment and foreign trade by the Republic of China government which governs Taiwan. In keeping with this trend, most large government-owned banks and...
- List of companies of Taiwan
- TaipeiTaipeiTaipei City is the capital of the Republic of China and the central city of the largest metropolitan area of Taiwan. Situated at the northern tip of the island, Taipei is located on the Tamsui River, and is about 25 km southwest of Keelung, its port on the Pacific Ocean...