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Australian Prudential
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Taiwan Business Bank (Australia Branch) |
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The forerunners of the Taiwan
Business Bank were two private savings organizations, one established in
Taipei in June of 1915 and the other in Tainan (South Taiwan) in July of the
same year, following the traditional practice of forming cooperatives.
Following the restoration of Taiwan to the Republic of China on Oct. 25,
1945, these two organizations and two more savings cooperatives were taken
over by the Taiwan Provincial Government and, on Sept. 1, 1946, were
reorganized to form the Taiwan Mutual Financial Co., Ltd. On May 31, 1947
the Taiwan Mutual Financial Co. absorbed the Tokiwa Real Estate Co., Ltd.,
and reached an accumulated capitalization of $10 million former Taiwan
dollars. On June 1, 1947 the name of the company was changed to the Taiwan
Provincial Mutual Loans and Savings Co., Ltd. Then, because of the
similarity of its business to that of a private cooperative, the name was
changed again in January 1948, to the Taiwan Credit Cooperative and Savings
Co., Ltd.
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Following the promulgation of
the revised Banking Law in 1975, the company was reorganized, on July 1,
1976, into the Medium Business Bank of Taiwan in line with the government's
overall economic policy and the provisions of the revised law. It was the
first specialized bank established by the government for the purpose of
providing financing assistance and guidance to small and medium-sized
enterprises. |
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Taiwan Business Bank (Australia Branch)
Category : Branches of Foreign Banks
SWIFT Code : MBBTAU2S
Address :
Suite 3, Level 24
363 George Street
Sydney NSW 2000
Australia
Telephone : +61 2 9262 3356
Website : www.tbb.com.tw |
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To cope with the liberalized and internationalized financial environment
and to conform to the government's policy of privatizing state-owned
enterprises, the TBB was transformed into a private bank on Jan.22,1998
and entered a brand-new age of operations. The Bank's domestic branch
network covers the whole island. In addition there are three overseas
units, including Los Angeles Branch in US, Hong Kong Branch in Hong Kong
and Sydney Branch in Australia.
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The Bank are regulated by the Australian
Prudential Regulatory Authority (APRA) in Australia. APRA is responsible
for regulating much of the financial industry, including insurance and
superannuation companies. Institution seeking to be prudentially regulated
as an authorised deposit-taking institution (ADI) is required to be
authorised under the Banking Act 1959 (the Banking Act). The Australian
Prudential Regulation Authority (APRA) is responsible for the
authorisation process.
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