The Bank of Taiwan (BOT; ) is a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

headquartered in

Taipei , nickname = The City of Azaleas , image_map = , map_caption = , pushpin_map = Taiwan#Asia#Pacific Ocean#Earth , coordinates = , subdivision_type = Country ...

, Taiwan. It was established in 1897-1899 as a Japanese policy institution or "special bank", similarly as the Nippon Kangyo Bank (est. 1897), Hokkaido Takushoku Bank (est. 1900), Industrial Bank of Japan (est. 1902), and Bank of Chōsen (est. 1909). Its aim was to finance industrial demand in Japanese-ruled Taiwan and also to promote trade between

South China South China ( zh, s=, p=Huá'nán, j=jyut6 naam4) is a geographical and cultural region that covers the southernmost part of China. Its precise meaning varies with context. A notable feature of South China in comparison to the rest of China is ...

Southeast Asia Southeast Asia is the geographical United Nations geoscheme for Asia#South-eastern Asia, southeastern region of Asia, consisting of the regions that are situated south of China, east of the Indian subcontinent, and northwest of the Mainland Au ...

and the Japanese possessions in the Pacific. The Bank of Taiwan was the main issuer of

banknote A banknote or bank notealso called a bill (North American English) or simply a noteis a type of paper money that is made and distributed ("issued") by a bank of issue, payable to the bearer on demand. Banknotes were originally issued by commerc ...

s on the island from 1899 to 1961, when that role was taken over by the Central Bank of China. Having lost its former role as a bank of issue, it remains owned by the

Government of the Republic of China The Government of the Republic of China is the central government, national authority whose actual-controlled territory consists of Taiwan (island), main island of Taiwan (Formosa), Penghu, Kinmen, Matsu Islands, Matsu, and list of islands of ...

History

Japanese colonial bank

The Bank of Taiwan's creation was authorized in 1897 by the Bank Act of Taiwan which also encouraged Japanese enterprises, such as the

Mitsubishi The is a group of autonomous Japanese multinational companies in a variety of industries. Founded by Yatarō Iwasaki in 1870, the Mitsubishi Group traces its origins to the Mitsubishi zaibatsu, a unified company that existed from 1870 to 194 ...

and

Mitsui is a Japanese corporate group and '' keiretsu'' that traces its roots to the ''zaibatsu'' groups that were dissolved after World War II. Unlike the ''zaibatsu'' of the pre-war period, there is no controlling company with regulatory power. Ins ...

Groups, to invest in Taiwan. It started operations in 1899. A financial crisis in 1927 was relieved with assistance from the

Bank of Japan The is the central bank of Japan.Louis Frédéric, Nussbaum, Louis Frédéric. (2005). "Nihon Ginkō" in The bank is often called for short. It is headquartered in Nihonbashi, Chūō, Tokyo, Chūō, Tokyo. The said bank is a corporate entity ...

. Bank branches were created in other parts of

Asia Asia ( , ) is the largest continent in the world by both land area and population. It covers an area of more than 44 million square kilometres, about 30% of Earth's total land area and 8% of Earth's total surface area. The continent, which ...

as the

Japanese empire The Empire of Japan, also known as the Japanese Empire or Imperial Japan, was the Japanese nation state that existed from the Meiji Restoration on January 3, 1868, until the Constitution of Japan took effect on May 3, 1947. From 1910 to ...

expanded, including areas in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

and

. By 1929, the Bank of Taiwan had a total 14 offices outside of Japan and its colonies, fewer than the Yokohama Specie Bank or Bank of Chōsen but more than any other Japanese commercial bank.

Bank of issue of the Republic of China

After the Japanese surrender in 1945, the ROC government (led by the Chinese Nationalist Party, or KMT) took over the Bank of Taiwan and began issuing ''Taiwan dollars'', also known as ''Taiwan Nationalist Yuan'', through the Bank of Taiwan. This currency is now referred to as the "

old Taiwan dollar The Old Taiwan dollar was in use from 1946 to 1949, beginning shortly after Taiwan's Retrocession Day, handover from Japan to the Republic of China (1912–1949), Republic of China. The currency was issued by the Bank of Taiwan. Hyperinflation p ...

." Severe inflation of this currency during the

Chinese Civil War The Chinese Civil War was fought between the Kuomintang-led Nationalist government, government of the Republic of China (1912–1949), Republic of China and the forces of the Chinese Communist Party (CCP). Armed conflict continued intermitt ...

led the Bank of Taiwan to issue the

New Taiwan dollar The New Taiwan dollar (code: TWD; symbol: NT$, also abbreviated as NT), or simply the Taiwan dollar, is the official currency of the Republic of China (Taiwan). Usually, the $ sign precedes the amount, but NT$ is used to distinguish from othe ...

in 1949. After the loss of

mainland China "Mainland China", also referred to as "the Chinese mainland", is a Geopolitics, geopolitical term defined as the territory under direct administration of the People's Republic of China (PRC) in the aftermath of the Chinese Civil War. In addit ...

in the

by the KMT and its subsequent retreat to Taiwan, the Bank of Taiwan kept printing the island’s banknotes until the Central Bank of China assumed that role in 1961.

Taiwanese commercial bank

The Bank of Taiwan was governed under the

Taiwan Provincial Government Taiwan Provincial Government is the nominal government of Taiwan Province in the Republic of China. Since 2018, its functions have been transferred to the National Development Council (Taiwan), National Development Council and other ministries ...

until 1998 when governance was transferred to the ROC Finance Ministry. In 2001 the Central Bank of China took over the task of issuing the New Taiwan Dollar. The Bank of Taiwan currently operates a total of 169 domestic branches as well as branches in

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

and the

People's Republic of China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

. Branches have also been established in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

Los Angeles Los Angeles, often referred to by its initials L.A., is the List of municipalities in California, most populous city in the U.S. state of California, and the commercial, Financial District, Los Angeles, financial, and Culture of Los Angeles, ...

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

, and

South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of coastline that stretches along the Atlantic O ...

. In July 2007, the Bank of Taiwan merged with the Central Trust () as part of a government financial reform package. The bank continues to operate as an independent company taking over some aspects of the Trust's banking business. In January 2008, the Bank became part of the Taiwan Financial Holdings Group (), which also contains BankTaiwan Securities and BankTaiwan Life Insurance.

Gallery

File:Bank of Taiwan Head Office Building 1940.jpg, The Bank of Taiwan's head office in 1939 File:Department of Public Treasury, Bank of Taiwan 20101001.jpg, Bank of Taiwan Department of Public Treasury, Taipei File:Department of Economic Research, Bank of Taiwan 20151206.jpg, Bank of Taiwan Department of Economic Research, Taipei File:Chia Pei Branch, Bank of Taiwan 20160326.jpg, Branch in

Chiayi Chiayi (,), officially known as Chiayi City, is a Provincial city (Taiwan), city located in Chianan Plain in Regions of Taiwan, southwestern Taiwan, surrounded by Chiayi County with a population of 263,188 inhabitants as of January 2023. The H ...

, Taiwan File:台灣銀行新竹支店.jpg, Branch in

Hsinchu Hsinchu (, ), officially Hsinchu City, is a city located in northwestern Taiwan. It is the most populous city in Taiwan that is not a special municipality, with estimated 450,655 inhabitants. Hsinchu is a coastal city bordering the Taiwan ...

, Taiwan, photographed in 1939 File:Building of Bank of Taiwan Karenko Branch 1916.jpg, Branch in Hualien, Taiwan, photographed in 1916 File:Kaohsiung Branch, Bank of Taiwan 20190309.jpg, Branch in

Kaohsiung Kaohsiung, officially Kaohsiung City, is a special municipality located in southern Taiwan. It ranges from the coastal urban center to the rural Yushan Range with an area of . Kaohsiung City has a population of approximately 2.73 million p ...

, Taiwan File:Taiwan Bank in Kirun.jpg, Branch in

Keelung Keelung ( ; zh, p=Jīlóng, c=基隆, poj=Ke-lâng), Chilung or Jilong ( ; ), officially known as Keelung City, is a major port city in northeastern Taiwan. The city is part of the Taipei–Keelung metropolitan area with neighboring New Ta ...

, Taiwan, photographed in 1919 File:臺灣銀行阿緱出張所.jpg, Branch in Pingtung, Taiwan, photographed in 1919 File:Yilan Museum of Art 20230606.jpg, Former branch in

Yilan Yilan may refer to: China * Yilan County, Heilongjiang (依兰县), county of central Heilongjiang province, People's Republic of China * Yilan Town, Heilongjiang (依兰镇), seat of Yilan County * Yilan, Jilin (依兰镇), town in Yanji Taiwan ...

, Taiwan, lately the Yilan Museum of Art File:Bank of Taiwan Building Shanghai before 1949.jpg, Bank of Taiwan Building in

Shanghai Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...

, before 1949 File:上海外滩万国建筑群楼12.jpg, The same building in 2013, by then a branch of

China Merchants Bank China Merchants Bank (CMB) () is a Chinese bank headquartered in Futian District, Shenzhen, Guangdong, China. Founded in 1987, it is the first share-holding commercial bank wholly owned by corporate legal entities in China. CMB listed on the Sha ...

File:Hankou Jianghan Lu - China People's Bank - P1050136.JPG, Former branch in Hankou, lately used by the

People's Bank of China The People's Bank of China (officially PBC and unofficially PBOC) is the central bank of the People's Republic of China. It is responsible for carrying out monetary policy as determined by the ''PRC People's Bank Law'' and the ''PRC Commercia ...

File:BankofTaiwan Shamian.jpg, Former branch on Shamian Island in

Guangzhou Guangzhou, Chinese postal romanization, previously romanized as Canton or Kwangchow, is the Capital city, capital and largest city of Guangdong Provinces of China, province in South China, southern China. Located on the Pearl River about nor ...

File:Bank of Taiwan at Battery Road, Singapore 01.jpg, Former branch in

, early 20th century postcard File:KITLV A194 - Kantoor van The Bank of Tawain te Semarang, KITLV 77551.tiff, Former branch in

Semarang Semarang (Javanese script, Javanese: , ''Kutha Semarang'') is the capital and largest city of Central Java province in Indonesia. It was a major port during the Netherlands, Dutch Dutch East Indies, colonial era, and is still an important regio ...

, photographed ca. 1927

References

External links

Official website

Official website

{{DEFAULTSORT:Bank Of Taiwan Government-owned banks of Taiwan Banks established in 1897 Companies based in Taipei 1897 establishments in Taiwan