COTA Bank

COTA Commercial Bank Co., Ltd. (Sanxin Bank) is a beacon in Taiwan's financial market, with its philosophy of "Integrity-based, Community-Serving" to demonstrate excellence in the fields of retail banking, SME finance and community financial services. Taichung Credit Union was established on December 17, 1915, and was restructured into a commercial bank in 1999, headquartered in Central District, Taichung City, Taiwan. As a listed company on the Taiwan Stock Exchange (stock code: 5830), Sanxin Bank serves about 500,000 customers and has become a model for small and medium-sized banks in Taiwan with its local business model and innovation capabilities.

Basic Information

Sanxin Bank is a commercial bank, privately owned, founded on December 17, 1915, headquartered in Central District, Taichung City, Taiwan. The bank was originally founded by local entrepreneurs as a credit union in Taichung, mainly serving Japanese people in Taiwan in the early days, and was transformed into a commercial bank in 1999 in accordance with the "Standards and Measures for the Restructuring of Credit Cooperatives into Commercial Banks". In 2017, major shareholders included Chuancheng Hat Industry (15%), PJ Group (9.6%) and Far Eastern Airlines (4%), and the holding structure operated as an independent company. Sansin 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. In 2019, the bank was fined NT$1.6 million by the FSC for deficiencies in anti-money laundering, trust business, and credit asset assessment, and was required to rectify the situation. The Bank's SWIFT code is COBKTWTPXXX and the Legal Entity Identifier (LEI) is 549300SN1NAZW1D1MC09. Sansin Bank has 30 branches in Taiwan, mainly located in Taichung (16), Taipei, Xinzhuang, Banqiao and Southern China, with a total of about 1,100 employees in 2017.

Deposit & Loan Products

depositsSansin

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 "Sanxin 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).

• 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 "Sanxin 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 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 "Sanxin Bank e-Financial Services" app or online banking, and deposit products support instant opening and interest rate calculation, and some accounts provide free transaction fee discounts.

LoansSanxin

Bank provides 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: Includes Sanshin Personal Loan (APR as low as NT$5.99% and amount up to 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 SME lending services, such as letters of credit and trade loans, provide additional support to local businesses.

Digital Service

ExperienceSanxin Bank's mobile banking app "Sanshin 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 fast 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 investment platform, providing real-time market data and investment advisory services.
  The online banking platform "Sanxin Personal Online Banking" supports a variety of 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, about 50% of customers complete transactions through digital platforms, significantly improving the user experience.

Technological

InnovationSanxin Bank actively explores 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; In 2024, it will invest NT$500 million to upgrade cloud technology and data analysis platforms to improve operational efficiency.

Featured Services & DifferentiationSansin

Bank is known for its localized services and SME support:

SME support: Provide customized loans and cash management services through Sanxin SME Services, participate in the SME Financing Guarantee Program of the Taiwan Financial Regulatory Commission, with loan approval in as fast as 10 seconds and an amount of up to NT$3 million, focusing on supporting SMEs in Taichung, Taipei and the southern region.

• Community Finance: Provide financial services close to the community through local branches to enhance customer stickiness, especially in Taichung, and accumulate a stable customer base.

• Cross-border finance: Provide international trade finance and foreign exchange services to support the expansion of Taiwanese companies in the Asian market, and the cross-border transaction volume will increase by 10% in 2023.

• Community Contribution: Through the Sanxin Bank Foundation, we will support education and charity projects, donate NT$2 million for community development in 2023, hold financial literacy lectures, and improve the financial management ability of young people.

Market Position &

HonorSansin Bank is one of the small and medium-sized commercial banks in Taiwan, with total assets of about NT$6.3 billion in 2017, ranking among the 38 banks in Taiwan. The bank has 30 branches, serving about 500,000 customers, and has a stable customer base in Taichung, Taipei, Banqiao and other places. Despite its small size, its low capital threshold makes it competitive in local financial markets. In 2017, the bank received media attention for management disputes and M&A activity, but its stable customer base ensured continued profitability. The specific accolades are not specified in the public information, but their performance in the field of community service and SME support may be recognized by the industry.

SummarySanxin

Commercial Bank Co., Ltd. has become a stable pillar of Taiwan's financial market with its century-old heritage, localized services and innovative financial products in Taichung. It offers a wide range of deposit and loan products to meet customer needs through local branches and digital platforms. The digital service is based on the application of "Sanxin Bank's e-financial service", 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, community financial services and cross-border financial capabilities, Sansin Bank continues to demonstrate solid competitiveness and unique influence in Taiwan's financial market.

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