First Bank was originated from Savings
Bank of Taiwan, established on November 26, 1899. In 1912,
it merged with Commercial and Industrial Bank of Taiwan under
the name Commercial and Industrial Bank of Taiwan. During 1923,
the bank successively acquired Chia-I Bank and Hsin-Kao Bank.
After Taiwan's Retrocession from Japan in 1945, the bank was
officially reorganized by the government on October 16, 1946,
and became one of the three government-affiliated banks with
the mission to allocate credit to underserved industrial and
commercial businesses as well as too finance national infrastructure.
Its company name also changed along with the times. In 1949,
it was renamed First Commercial Bank of Taiwan and in 1979,
the name was shortened to First Commercial Bank, commonly known
as First Bank.
In 1998, First Bank became the largest private-owned bank
in Taiwan after privatization. Since then it has been able
to secure leadership positions in such selected areas as SME
business, home mortgages, mutual-fund distribution, deposit
and lending. It currently owns 197 service points at home along
with 16 overseas branches and the US subsidiary of First Bank
(USA).
Following the trend in financial services integration, First
Bank joined First Financial Holding through a share swap on January
2, 2003 and became the banking arm of First Group, the primary
profit source for the holding company. Under the corporate philosophy
of "Customer First, Service Foremost " and based on its core
competence, First Bank will actively develop its wealth management
business and innovate new products to provide customers with
superior banking experiences. |
