Bank SinoPac Co., Ltd. (SinoPac Bank) is a pioneer in Taiwan's financial market, with a vision of "Better Life Together" in the fields of retail banking, SME finance, wealth management and digital finance. Founded on January 14, 1992, initially known as Asia-Pacific Commercial Bank, it was founded by Taiwanese entrepreneurs Yin Yanliang and Luo Qiluan, and merged with Taipei International Bank on November 13, 2006, renamed SinoPac Commercial Bank, becoming a wholly-owned subsidiary of SinoPac Financial Holdings Company Limited (Taiwan Stock Exchange: 2890). Headquartered at No. 36, Section 3, Nanjing East Road, Zhongshan District, Taipei, Taiwan, SinoPac Bank serves more than 1 million customers and has become a benchmark for medium-sized and large banks in Taiwan with its local business model and innovation capabilities.
Bank Basic Information
Wing Fung Bank is a commercial bank, privately owned, established on January 14, 1992, headquartered at No. 36, Section 3, Nanjing East Road, Zhongshan District, Taipei City, Taiwan. Founded by Yin Yanliang and Lo Kai-luan, the bank was initially positioned to serve small and medium-sized enterprises and individual customers in response to Taiwan's financial liberalization policy. On December 26, 2005, Taipei International Bank was merged into SinoPac Financial Holding through a share exchange, and the merger was completed in 2006 and officially renamed as SinoPac Commercial Bank. Founded in 2002, SinoPac Financial Holdings integrates banking, securities, leasing and venture capital businesses, with institutional investors and public shareholders as its main shareholders, with SinoPac Financial Holding as its core. SinoPac 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 Bank's SWIFT code is SINOTWTP and the Legal Entity Identifier (LEI) is 5493003NOCSC6LUWUF03. SinoPac Bank has 125 branches in Taiwan, 83 of which are located in the greater Taipei area, covering the central, southern, Hualien and Kinmen, and branches in Hong Kong, Macau, Chinese mainland (Nanjing) and Cambodia, with a total of approximately 7,000 employees in 2024.
Deposit & Loan Products
Deposits
SinoPac 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 rate will vary according to the maturity, such as 1.225% for 1 month, 1.425% for 3 months, 1.625% for 6 months, 1.825% for 1 year, 2.025% for 2 years, 2.225% for 3 years, and 2.425% for 5 years.
Featured Products:
High Yield Savings Account: Such as "Wing Fung Premium Savings Account", which offers an annualized interest rate of up to 1.5%, requires maintaining a balance of more than NT$100,000, and 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 check the "Cloud Interest Rate" offer through the "easy by Bank SinoPac" app or online banking, and the deposit products can be opened and calculated instantly, and some accounts can be free of transaction fees.
Demand Deposits: Including checking accounts and savings accounts, such as "Wing Fung 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 (Wing Fung Bank Deposit Service). 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
SinoPac Bank offers a comprehensive range of loan products to meet diverse 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%), 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 (Wing Fung Bank Loan Service).
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 Wing Fung 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. The bank's corporate financial services, such as letters of credit, bill discounting and trade loans, provide additional support to SMEs and large enterprises.
Digital service experience
SinoPac's mobile banking app "easy by Bank SinoPac" 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 about 4.7 and a Google Play rating of 4.5, with users praising its quick launch (within 2 seconds) and intuitive interface (easy by Bank SinoPac）。 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 trading through the SinoPac Investment Platform, providing real-time market data and investment advisory services.
The online banking platform "Wing Fung Personal Internet Banking" supports multiple browsers and provides similar functions, and customers can open an account 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, about 60% of customers completed transactions through digital platforms, significantly improving the user experience. In addition, the "Bank Sinopac Global eBanking+" app (Google Play score 4.6) is designed for corporate customers and offers group account integration, mobile approvals and transaction tracking features (Global eBanking+).
Technological innovation
SinoPac Bank excels in the fintech sector, driving technological advancements through its Digital Innovation Centre:
Robo-advisor: Provide AI-based investment management services through the Wing Fung Investment Platform, recommend diversified investment portfolios based on customer risk appetite, with a minimum investment of NT$1,000 and no subscription fees.
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.
Other innovations: support for QR code payment, mobile check deposit, and the launch of the DAWHO social banking app (DAWHO) in 2020 to integrate payment, savings and investment functions; Cooperate with Alipay to provide cross-border payment services; Invest NT$1 billion in 2024 to upgrade cloud technology and data analytics platforms to improve operational efficiency.
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.
Featured Services & Differentiation
SinoPac Bank is known for its localised services and digital innovations:
Cross-border finance: With branches in Hong Kong, Macau, Chinese mainland (Nanjing) and Cambodia (Amret Plc., 80% acquisition in 2025), it supports cross-border trade and investment of Taiwanese businessmen, and cross-border transaction volume will increase by 15% in 2023.
Wealth Management: Through SinoPac Securities and SinoPac Investment Trust, we provide individual pension funds, unit trusts and insurance products, with approximately NT$30 billion in assets under management in 2023 to meet the needs of mid- to high-net-worth clients.
DAWHO Social Banking: In 2020, the DAWHO app was launched, integrating payment, savings, and investment functions, targeting young customers and significantly improving customer stickiness.
Green Finance: Launched green bonds and preferential interest rate loans to support renewable energy projects, responded to the United Nations Principles for Responsible Banking, and won the "Taiwan Green Finance Pioneer Award" in 2023.
Community Contribution: Support education and charity projects through the SinoPac Bank Foundation, and donate NT$3 million for community development in 2023
SME support: Provide customized loans and cash management services through Wing Fung SME Services, participate in the Taiwan Financial Supervisory Commission's SME Financing Guarantee Program, with loan approval in as fast as 10 seconds, up to NT$3 million, and a 12% increase in SME loan balance in 2023 (Wing Fung SME Services).
