First Commercial Bank, Ltd. (FCB) is a pioneer in Taiwan's financial market, with a "customer-first, service-first" philosophy that has demonstrated excellence in retail banking, corporate finance, and digital services. Founded in 1899, Taiwan Savings Bank was renamed First Commercial Bank in 1976 after several mergers and renamings, and is headquartered at No. 30, Section 1, Chongqing South Road, Zhongzheng District, Taipei, Taiwan. As a wholly owned subsidiary of First Financial Holding Co., Ltd. (TWSE: 2892), FCB serves more than 7 million customers and is a leader in Taiwan's banking industry with its solid financial performance and innovative capabilities.
The
First Commercial Bank is a commercial bank, privately owned, founded on November 12, 1899, headquartered at No. 30, Section 1, Chongqing South Road, Zhongzheng District, Taipei, Taiwan. Originally a government entity, the bank was transformed into a private bank on 22 January 1998 and became a subsidiary of First Financial Holding on 2 January 2003. First Financial Holdings is listed on the Taiwan Stock Exchange (stock code: 2892) and its major shareholders include institutional investors and public shareholders. FCB is strictly regulated by the Financial Supervisory Commission (FSC) of Taiwan and is required to comply with the Banking Act and international financial standards to ensure operational transparency and the safety of customer funds. Its deposits are protected by Taiwan's deposit insurance system, with a maximum coverage of NT$3 million per depositor. The Bank's SWIFT code is FCBKTWTPXXX and the Legal Entity Identifier (LEI) is 5493003NOCSC6LUWUF03. FCB has 184 branches in Taiwan and 42 branches in 9 countries and regions, including China, Hong Kong, Singapore, Japan, Vietnam, Cambodia, Thailand, Australia and the United States, with approximately 8,446 employees worldwide.
Deposit & Loan Products
depositsFirst
Commercial Bank provides a variety of deposit products to meet the savings needs of individual and corporate customers:
demand deposits: Including checking accounts and savings accounts, such as FCB savings accounts, the minimum opening amount is NT$1,000, and the base annualized rate of return (APY) is about 0.3%, and the latest interest rate needs to be confirmed through branch or online banking (deposit service).
Fixed deposits: 12 currencies such as NEW TAIWAN DOLLAR, USD and RMB are supported, with deposit terms ranging from 1 month to 3 years, and the minimum deposit amount is NT$5,000. In 2025, the fixed deposit interest rate will vary according to the maturity, such as about 0.35% for 1 month, 0.40% for 3 months, 0.53% for 6 months, 0.63% for 9 months, 0.77% for 1 year, 0.78% for 2 years, and 0.79% for 3 years (based on the average interest rate of the five major banks in Taiwan).
Featured Products:
High Yield Savings Account: Such as "FCB Premium Savings Account", which offers an annualized interest rate of up to 1.5% and requires a balance of more than NT$100,000.
Large Certificate of Deposit (CD): Flexible tenor, suitable for customers with large amounts of funds, the interest rate needs to be queried through the branch or app.
Customers can check the "Cloud Interest Rate" offer through the iLEO mobile app or online banking, and the deposit products can be opened and calculated instantly, and some accounts can be free of transaction fees.
LoansThe
First Commercial Bank provides comprehensive loan products to meet diversified financing needs:
housing loans: Fixed-rate and variable-rate mortgages with a loan amount of up to 80% of the value of the property and a repayment period of up to 30 years. In 2025, the fixed interest rate will be as low as 1.6% (3-year term), the floating interest rate will be based on the minimum lending rate (MLR, about 5.5%), and cash rebates and insurance discounts will be provided, and the application will require a credit score of 660 or more and an annual income of more than NT$30,000.
Car Loans: Support financing for new and used cars, with a loan amount of up to NT$3 million, a term of up to 72 months, an annualized interest rate (APR) as low as 1.88%, and a credit score of 660 or above.
Personal Line of Credit: Includes FCB Personal Loan (APR as low as NT$5.99% and maximum amount of NT$1.5 million) and asset-backed overdraft (up to NT$95% of collateral market value), with a monthly salary of NT$30,000 or above and a good credit history.
Flexible repayment options: Mortgages and personal loans offer no penalty for early repayment, weekly or bi-weekly payment plans, and a revolving line of credit for flexible debt management.
All loans are subject to bank approval, and customers are required to provide credit history, proof of income and asset information, subject to the terms of the loan agreement. Banks' trade finance services, such as letters of credit and trade loans, provide additional support to cross-border businesses.
Digital Service Experience
First Commercial Bank's mobile banking app "iLEO" is the core of its digital services, which is available for download on iOS 14.0 and above and Android 9.0 and above devices, with an App Store rating of 4.7 and a Google Play rating of 4.3, and users praise its quick launch (within 2 seconds) and intuitive interface (iLEO app). Core features include:
Face recognition: supports biometric authentication (such as Face ID and Touch ID), combined with strong encryption technology to ensure transaction security.
Real-time transfer: Support real-time transfer of NTD through the Taiwan interbank transfer system, with a daily limit of up to NT$1 million, international remittance covering more than 100 countries, and cooperate with Western Union and other platforms to provide low-rate transfers.
Bill management: Support online bill payment, automatic deduction and e-statement, and classify transaction records in real time.
Investment Tool Integration: Support stocks, funds, bonds, and derivatives trading with FCB Invest, providing real-time market data and investment advisory services.
The online banking platform FCB i-Bank supports multiple browsers and provides similar functions, allowing customers to open an account in 5 minutes through the app or official website. The app supports accessibility features such as dynamic font adjustment and VoiceOver compatibility for visually impaired and hearing-impaired customers. Some users reported occasional technical issues, but the bank continued to optimize the user experience (e-banking services).
Technological InnovationFirst
Commercial Bank actively explores in the field of financial technology, relying on the technical resources of First Financial Holdings to promote digital transformation:
AI customer service: AI-driven customer service systems may have been introduced to analyze transaction behavior, Detect fraud risks in real-time, with plans to launch a virtual assistant in 2025 that will support 24/7 inquiries and personalized financial advice.
Robo-advisor: Provide AI-based investment management services through FCB Invest, recommend diversified portfolios based on customers' risk appetite, with a minimum investment of NT$1,000 and no subscription fees.
Open Banking API Support: Follows the Open Banking Framework of the Financial Supervisory Commission of Taiwan and integrates with third-party service providers to provide account management and financial services interoperability, especially in the areas of trade finance and cross-border payments.
Other innovations: support for QR code payments, mobile check deposits, and the eTradeConnect platform to simplify trade finance applications; In 2015, it launched a mobile payment platform in cooperation with a Taiwanese mobile payment company to attract smartphone users (Mobile Payment News). In 2024, the bank will invest NT$3 billion to upgrade its cloud technology and data analytics platform to improve operational efficiency.
Featured Services & DifferentiationFirst
Commercial Bank is known for its international layout and localized services:
SME support: Customized loan and cash management services through FCB SMEs, Participate in the SME Financing Guarantee Program of the Financial Supervisory Commission of Taiwan, with a loan approval rate of up to NT$3 million in as fast as 10 seconds.
International presence: It has 42 branches in China, Hong Kong, Singapore, Japan, Vietnam, Cambodia, Thailand, Australia and the United States to support trade finance (international services) in countries along the "Belt and Road".
Sustainable Finance: Launched green bonds and preferential rate loans to support environment-friendly projects, and won the "Taiwan Green Finance Pioneer Award" in 2023 in response to the United Nations Principles for Responsible Banking.
Wealth Management: Provide individual pension funds, unit trusts and insurance products to meet the needs of high-net-worth customers.
Financial Education: Financial literacy seminars are held through FCB Academy to enhance the financial literacy skills of customers and the community.
Market Position & HonorFirst
Commercial Bank is one of the leading commercial banks in Taiwan, with total assets of approximately NT$4.2 trillion in 2024, ranking among the top in Taiwan's banking industry. With 184 branches serving more than 7 million customers, the bank is a market leader in SME and retail banking. Its international layout covers 9 countries and regions, and it will rank high in the Forbes Global 2000 list in 2023. Key accolades include:
The Asian Banker 2023 "Best Retail Bank in Taiwan".
2022 Greenwich Associates SME Customer Experience Award.
The 2023 "Best Employer" certification recognizes performance in employee development and community support.
2023 "Taiwan Green Finance Pioneer Award".
First Commercial Bank's solid financial performance and innovation capabilities have made it a leader in the financial markets of Taiwan and the region.
SummaryFirst
Commercial Bank Co., Ltd. has become a pioneer in Taiwan's and regional financial markets with its long history, international business layout and innovative financial services. It offers a wide range of deposit and loan products, including high-yield savings accounts, term deposits, and flexible mortgages and personal loans, to meet the diverse needs of its customers. In terms of digital services, the iLEO app has been well received for its efficient real-time transfer and investment management functions. Technological innovations, including AI customer service, open banking APIs, and mobile payment platforms, demonstrate its forward-looking digital transformation.
