In support of the Bilingual Nation 2030 policy, the Financial Supervisory Commission (FSC) encourages banks to set up bilingual branches, enhance the English proficiency of staff members, and create a friendly bilingual financial services environment. Last December, the FSC arranged visits to DBS Bank Taiwan’s Tianmu Branch and Mega International Commercial Bank’s Lanya Branch. Today, FSC Chairman Mr. Tien-Mu Huang, together with Mr. Ming-Hsin Kung (Minister of National Development) and Mr. Jain-Rong Su (Minister of Finance), arranged visits to CTBC Bank’s Shinfu Branch and First Commercial Bank’s Yanji Branch. The FSC will visit the bilingual branches of other banks this year.

The FSC chose the above two branches on the basis of their preparatory progress and the features of each bank’s customer base. The CTBC Bank’s Shinfu Branch focuses on retail banking and wealth management, while First Commercial Bank’s Yanji Branch is a large branch with diversified businesses and comprehensive services. Both branches are experienced in offering bilingual financial services. Since they are located in areas with offices of foreign companies and tourist attractions, there are many foreign customers. This shows that domestic banks have sufficient resources and potential to provide international financial services by providing bilingual facilities, application forms, and service counters with bilingual personnel. These preparations are laying a good foundation for internationalization of Taiwan’s financial industry.

The following 17 banks have set up at least one bilingual branch: Mega International Commercial Bank, DBS Bank Taiwan, CTBC Bank, First Commercial Bank, Bank of Taiwan, Land Bank of Taiwan, Taiwan Cooperative Bank, Hua Nan Bank, Chang Hwa Bank, The Shanghai Commercial & Savings Bank, Taipei Fubon Commercial Bank, Cathay United Bank, Citibank Taiwan, Taiwan Business Bank, Taichung Bank, E. Sun Bank, and Taishin Bank. Meanwhile, the following six banks have begun preparing to establish a bilingual branch: Far Eastern International Bank, Bank SinoPac, Yuanta Bank, Bank of Kaohsiung, Union Bank of Taiwan, and Shin Kong Bank. The FSC hopes that banks can allocate more resources to establish a bilingual environment.

In the future, the FSC will also visit the branches of other banks in order to drive the momentum of bilingualization of the banking industry. With a cooperative effort from the public and private sectors, the global image of Taiwan as having a bilingual environment can be further enhanced.

 

Contact: Banking Bureau, Domestic Banks Division