Taiwan Shin Kong Commercial Bank Co., Ltd. (hereinafter referred to as Shin Kong Bank) is a shining light in Taiwan's financial market, with its concept of "Honest Service, Create Prosperity Together", showing outstanding performance in the fields of retail banking, SME finance and cross-border finance. Originated from Wanhua Credit Union (later renamed Taipei No. 3 Credit Union) established in 1918, restructured into Michelle Bank in 1997, and joined Shin Kong Financial Holding Co., Ltd. on October 3, 2005 and changed its name to Shin Kong Bank. Headquartered at No. 66, Section 1, Zhongxiao West Road, Zhongzheng District, Taipei, Taiwan, Shin Kong Financial Building, as a wholly-owned subsidiary of Shin Kong Financial Holdings (Taiwan Stock Exchange: 2888), Shin Kong Bank serves approximately 1 million customers, and has become a benchmark for small and medium-sized banks in Taiwan with its local business model and innovation capabilities.
Basic Information
Shin Kong Bank is a commercial bank, privately owned, originated in 1918, headquartered at No. 66, Section 1, Zhongxiao West Road, Zhongzheng District, Taipei, Taiwan. Founded by local entrepreneurs, the bank was reorganized into Taipei Wanhua Credit Union in 1945, renamed Taipei No. 3 Credit Union in 1966, restructured into Michelle Bank in 1997, and joined Shin Kong Financial Holding Company in 2005 and renamed Shin Kong Bank. Shin Kong Financial Holdings was established on February 19, 2002, with major shareholders including institutional investors and public shareholders, and the holding structure is centered on Shin Kong Financial Holdings. Shin Kong Bank 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 SWIFT code for the bank is MKTBTWTP and the Legal Entity Identifier (LEI) is 5493003NOCSC6LUWUF03. Shin Kong Bank has 103 branches in Taiwan and a branch in Hong Kong, with a total of approximately 2,500 employees in 2024.
Deposit & Loan Products
Deposits
Shin Kong Bank offers a wide range of deposit products to meet the savings needs of individual and corporate customers:
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 "Shin Kong Uni Savings Account", which offers 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 tenor, 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 "Shin Kong Bank e-Financial Services" app or online banking, and the deposit products support instant opening and interest rate calculation, and some accounts provide free transaction fee discounts.
Current Deposits: Including checking accounts and savings accounts, such as "Shin Kong Current Account", the minimum account opening amount is NT$1,000, and the basic 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).
Loans
Shin Kong Bank offers a comprehensive range of loan products to meet diversified financing needs:
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.
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: This includes Shin Kong Personal Loan (APR as low as NT$5.99% and maximum NT$1.5 million) and asset-backed overdraft (up to NT$95% of collateral market value) with a monthly salary of at least 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 SME lending services, such as letters of credit and trade loans, provide additional support to local businesses.
Digital service experience
Shin Kong Bank's mobile banking app "Shin Kong 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 rating of about 4.5 and a Google Play score of about 4.3, with users praising its quick launch (within 2 seconds) and intuitive interface. 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 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 inquiries through the Shin Kong Investment Trust platform, and provide real-time market data and investment advisory services.
The online banking platform "Shin Kong Personal Online Banking" supports multiple browsers and provides similar functions, and customers can complete the account opening within 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. In 2023, 50% of customers complete transactions through digital platforms, significantly improving the user experience.
Technological innovation
Shin Kong Bank actively explores in the field of financial technology, relying on Shin Kong Financial Holding's technical resources 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; In 2023, it launched the electronic cash flow service and won the "Best Service Innovation Award" from a financial information service company.
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 & Differentiation
Shin Kong Bank is known for its localized services and cross-border financial capabilities:
SME support: Provide customized loans and cash management services through Shin Kong SME Services, participate in the SME Financing Guarantee Program of the Taiwan Financial Regulatory Commission, and obtain loan approval in as fast as 10 seconds, with an amount of up to NT$3 million, and the balance of SME loans will increase by 12% in 2023.
Easy-Trip Financial Card: In 2018, it cooperated with Easy-Card to launch Taiwan's first Easy-Trip Financial Card, integrating the functions of financial card and electronic ticket, targeting young customers and non-card-free groups, and significantly improving customer stickiness.
Cross-border finance: Provide cross-border trade finance and foreign exchange services through the Hong Kong branch and Shin Kong Leasing (Suzhou), with a cross-border transaction volume of NT$5 billion in 2023, supporting the expansion of Taiwanese companies in the Asian market.
Wealth Management: In collaboration with Shin Kong Investment Trust, it provides funds, trusts and insurance products for mid- and high-net-worth clients, with assets under management of approximately NT$30 billion in 2023, winning the "Most Innovative Wealth Management" award from Excellence Magazine.
Community Contribution: Support education and charity projects through Shin Kong Bank Cultural Foundation, donate NT$3 million for community development in 2023, hold financial literacy lectures, and improve the financial management ability of young people.
Market Position & Honors
Shin Kong Bank is one of Taiwan's small and medium-sized commercial banks, with total assets of about NT$400 billion in 2024, ranking in the middle of the 38 banks in Taiwan. With 103 branches serving approximately 1 million customers, the bank has a strong position in SME finance and community services. In 2023, banks reported an 8% increase in deposit balances, a 6% increase in loan balances, and a non-performing loan ratio remaining below 0.2%, indicating sound operation. Shin Kong Bank's innovation in cross-border financial and digital services has enabled it to remain competitive in the regional market. The establishment of the Hong Kong branch has further enhanced its ability to serve Taiwanese companies. Major accolades include:
2023 "Best Community Bank in Taiwan" Award.
2013 Visa "Taiwan's Largest Unlimited Card Issuing Bank" award.
2013 Financial Supervisory Commission "Best SME Loan Bank" Award.
2013 Excellence Magazine "Excellence in Financial Services" Award.
Shin Kong Bank's community focus and innovation capabilities make it the backbone of Taiwan's financial market.
Conclusion
Shin Kong Commercial Bank Co., Ltd. has become a shining light in Taiwan's financial market with its century-old heritage, localized services and innovative financial products in Taiwan. 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 "Shin Kong 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 SME support, cross-border financial expertise, Youyou financial card innovation and multiple industry accolades, Shin Kong Bank continues to demonstrate solid competitiveness and unique influence in the financial markets of Taiwan and the region.
Note:
specific interest rates and product details may vary depending on market changes, please contact Shin Kong Bank official website or contact the bank directly for the latest information.
