Type Corporation Website www.banksinopac.com.tw Founded 1992 | Industry Banking Headquarters Taiwan | |
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Stock price 2890 (TPE) NT$ 9.38 +0.03 (+0.32%)1 Mar, 1:30 PM GMT+8 - Disclaimer Profiles | ||
Bank SinoPac, or SinoPac Financial Holdings Company Ltd (Chinese: 永豐金融控股公司; pinyin: Yǒngfēng Jīnróng Kònggǔ Gōngsī), is a Taiwan-based banking holding company which operates through 18 divisions and 129 branches in Taiwan.
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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 2000s. In late 2005, SinoPac merged with the International Bank of Taipei(IBT). SinoPac, like many other Taiwanese financial institutions, has branches and operations in the United States and major Asian 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.
Current status
SinoPac's total assets stood at about US$40 billion. Its stock is traded on the Taiwan Stock Exchange. Bank SinoPac is a subsidiary of SinoPac Financial Holdings which has a market capitalization of around $3.4 billion USD.