King's Town Bank (Taiwan, China)

King's Town Bank grow out of Tainan Business Band with branches in Chiayi, Hsinying, Huwei and Beigang etc. on July 30, 1983 the company was listed on Taiwan Stock Exchange and changed the name to King's Town Bank on May 3, 2006. To expand its business the Bank set up the Taipei branch in 1995 that was its first cross-district operating branch. In December, 1999 the Bank was appointed as the foreign exchange bank. In 2000 it set up the international department and then added foreign exchange branches. In July 2002 the Bank set up Offshore Banking Unit (OBU) and officially entered the field of international banking business. In addition, to promote the wealth management business, approved by the FSC, the Bank configured professional money managers and financial services commissioners to provide customers with financial planning and services. Currently the Bank operates its businesses through deposit business, loan business, foreign exchange business, trust and investment business, and other businesses. Specifically, the deposit business include domestic remittance, safe case leasing and distribution of gold billets, gold coins and silver coins, among others. Loan business include loan services, bill discounting and domestic warranty services, among others. Foreign exchange business include foreign exchange trading, foreign exchange remittance, foreign exchange deposit and international financing services. Trust and investment business include trust services, specific purpose trust capital foreign securities investment, specific purpose capital domestic securities investment and short term bills broking, among others. Other businesses include issuing of financial bonds, credit card business and wealth management services. Through nearly 60 years’ development, the paid-in capital of the Bank amounted to NT$ 10.5 billion. So far it has 64 business units throughout the Yunlin, Chiayi, Tainan, Taipei, Hsinchu, Taoyuan, Taichung and Kaohsiun areas. In 2009 the Bank received “A- (twn)” rating from Fitch Ratings, reflecting its strong financial structure and sound performance and in 2010 it improved the outlook rating to stable.