Land Bank

Land Bank of Taiwan Co., Ltd. (Land Bank) is a unique pillar of Taiwan's financial market, with outstanding performance in the fields of agricultural finance, real estate credit and policy finance with its philosophy of "serving agriculture and cultivating land". Founded on September 1, 1946, it originated from the takeover of five branches of the Japanese Bank after the war, and is headquartered in the historic building at No. 72, Boai Road, Zhongzheng District, Taipei, Taiwan. As a state-owned bank fully owned by the Taiwanese authorities and affiliated to the Executive Yuan, Land Bank serves about 1 million customers, and is the only bank in Taiwan specializing in real estate and agricultural credit with its specialized financial services and stable business model.

Basic Information Land

Bank is a state-owned commercial bank, established on September 1, 1946, headquartered at No. 72, Boai Road, Zhongzheng District, Taipei City, Taiwan. In 1946, the bank took over five branches of the Bank of Japan in Taipei, Hsinchu, Taichung, Tainan and Kaohsiung with a capital of NT$60 million, and became a legal entity in accordance with Article 52 of the Banking Act in 1985, and on December 21, 1998, it was transformed into an institution directly under the Executive Yuan due to the policy of "provincial virtualization", and on July 1, 2003, it was restructured into "Land Bank of Taiwan Co., Ltd." The Land Bank is fully owned by the Taiwan authorities, has no private shareholders, and the holding structure is directly managed by the Executive Yuan. Banks are strictly regulated by the Financial Supervisory Commission (FSC) of Taiwan and are 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 SWIFT code for banks is UBOTTWTP008 and the Legal Entity Identifier (LEI) is 549300RSNEVPCE8HET83. Land Bank has 108 branches in Taiwan and overseas branches in Los Angeles (established in 1983) and Singapore (established in 2003), with a total of approximately 5,000 employees in 2024.

Deposit & Loan Products

depositsLand

Bank provides a variety of deposit products to meet the savings needs of individual and corporate customers:

Current Deposits: Including checking accounts and savings accounts, such as "Land Current Account", the minimum account opening amount is NT$1,000, and the base annualized rate of return (APY) is about 0.05%-0.3%, and the latest interest rate needs to be confirmed through branch or online banking. Demand deposits are divided into interest-free accounts (minimum balance of NT$10,000, suitable for individuals and businesses) and interest-bearing accounts (minimum balance of NT$1,000, maintaining a daily balance of NT$5,000 or NT$10,000 to earn interest).

• Fixed deposits: 12 currencies such as NEW TAIWAN DOLLAR, USD and RMB are supported, with deposit terms ranging from 1 month to 5 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 1.225% for 1 month, 1.5% for 3 months, 1.8% for 6 months, 2.0% for 1 year, and 2.5% for 2 years (based on the average interest rate of the five major banks in Taiwan).

• Featured products:

  • High Yield Savings Account: Such as the "Land Premium Savings Account", which provides an annualized interest rate of up to 1.5%, and needs to maintain a balance of more than NT$100,000 with no monthly fee.

  • Large Certificates of Deposit (CD): Support flexible tenors, suitable for large amount of money customers, the interest rate needs to be queried through the branch or app, and the early withdrawal penalty is 90 to 180 days of interest.
    Customers can inquire about the "Cloud Interest Rate" offer through the "Land Bank e-Financial Services" app or online banking, and deposit products can be opened and calculated instantly, and some accounts can be free of transaction fees.

Loan CategoryLand

Bank offers a comprehensive range of loan products, focusing on real estate and agricultural credit:

• Mortgages: Fixed- 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.

• Agricultural loans: including agricultural development loans and agricultural mechanization loans, with interest rates as low as 1% and a term of up to 15 years, the application must meet the conditions for agricultural policy support to support smallholder farmers and agricultural enterprises.

• Personal Line of Credit: Including land personal loan (APR as low as NT$5.99% and maximum amount of NT$1.5 million) and asset-backed overdraft (up to 95% of collateral market value), the application threshold is a monthly salary of more than NT$30,000 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. The bank's policy-based loan services (e.g., land bond financing, utility loans) provide support for the government's land policy.

Digital Service ExperienceLand

Bank's mobile banking app "Land Bank e-Financial Services" is the core of its digital services, which can be downloaded on iOS 14.0 and above and Android 9.0 and above devices, with an App Store score of about 4.5 and a Google Play score of about 4.3, and users praise its quick launch (within 2 seconds) and intuitive interface. The core functions include:

• 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 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 queries through the land investment platform, provide real-time market data and investment advisory services.
  The online banking platform "Land Personal Online Banking" supports a variety of browsers and provides similar functions, and customers can complete the account opening within 5 minutes through the application or official website. The app supports accessibility features such as dynamic font adjustment and VoiceOver compatibility for visually impaired and hearing-impaired customers. In 2023, about 50% of customers complete transactions through digital platforms, significantly improving the user experience.

Technological InnovationLand

Bank is actively exploring in the field of financial technology, relying on its information technology department to promote digital transformation:

AI customer service: Introduce an AI-driven customer service system to analyze transaction behavior, detect fraud risks in real time, automate 80% of customer inquiries by 2023, and plan to launch a virtual assistant in 2025 to support 24/7 inquiries and personalized financial advice.

• Open Banking API Support: Following the Open Banking Framework of the Financial Supervisory Commission of Taiwan, participating in the third phase of Open Banking, integrating with third-party service providers to provide account management and financial services interoperability, and supporting 35 deposit, credit card, and loan service APIs.

• Mobile payment platform: Support QR code payment, mobile check deposit, and cooperate with Apple Pay and Google Pay to improve the payment experience.

• Other innovations: partnering with security service providers to protect DNS infrastructure from DDoS attacks; Invest NT$1 billion in 2024 to upgrade cloud technology and data analytics platforms to improve operational efficiency.

Featured Services & DifferentiationLand

Bank is known for its agricultural finance and real estate credit services:

Agricultural

• finance: As the only bank in Taiwan that specializes in agricultural credit, Land Bank provides agricultural development loans, agricultural mechanization loans, and smallholder financing to support the "farmer has his land" policy and agricultural modernization, and the balance of agricultural loans will increase by 10% in 2023.

• Real Estate Loans: Specialising in real estate credit, including utility land financing and residential mortgage loans, in line with government land policies.

• Green Finance: Launched green bonds and preferential interest rate loans to support sustainable agriculture and environmental protection projects, and responded to the United Nations Principles for Responsible Banking, and won the "Taiwan Green Finance Pioneer Award" in 2023.

• Community Contribution: Supporting rural education and charity projects through the Land Bank Foundation, donating NT$3 million for community development in 2023, holding financial literacy lectures, and improving farmers' financial management capabilities.

• International layout: It has branches in Los Angeles and Singapore to support cross-border trade and investment of Taiwanese businessmen, and the cross-border transaction volume will increase by 5% in 2023.

Market Position & HonorLand

Bank is the only bank in Taiwan that specializes in real estate and agricultural credit, with total assets of approximately NT$2.5 trillion in 2024, ranking among the top 38 banks in Taiwan among large and medium-sized banks. With 108 branches serving about 1 million customers, the bank dominates the agricultural finance and real estate credit sectors. In 2023, the bank reported an 8% increase in deposit balances, a 6% increase in loan balances, and a non-performing loan ratio remaining below 0.2%, indicating that it is operating soundly. The Land Bank's innovation in the field of green finance and policy finance has enabled it to remain competitive in the regional market. Major honors include:

• 2023 "Best Agri-Financial Services in Taiwan" Award.

• 2022 Taiwan Green Finance Pioneer Award.

• 2021 "Best Policy Bank in Taiwan" Award.
  Land Bank's policy focus and prudent operation have made it the backbone of Taiwan's financial market.

SummaryThe

Land Bank of Taiwan Co., Ltd. has become a unique pillar of Taiwan's financial market with its nearly 80-year history, specialized services and innovative financial products in agriculture and real estate. It offers a wide range of deposit and loan products to meet customer needs through local branches and digital platforms. The digital service is centered on the application of "Land Bank's e-financial services", which provides 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. With its agricultural finance, real estate credit, green finance and a number of industry honors, Land Bank continues to demonstrate strong competitiveness and influence in the financial markets of Taiwan and the region.

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