Land Bank of Taiwan
Encyclopedia
Land Bank of Taiwan is a wholly state-owned bank of the Republic of China
(Taiwan
).
It was owned by the Taiwan Provincial Government
before its downsizing on December 21, 1998, when it was transferred to the jurisdiction of the Executive Yuan
.
It is the only bank designated by the ROC government as a specialised bank for handling real estate and agricultural credit. Its objective is to develop national economic construction in coordination with the implementation of the government's housing, agricultural, and land policies.
came to an end. To facilitate the implementation of land policies such as land-rights equalization and the land-to-the-tiller program in Taiwan, the government appropriated 60 million dollars from the national treasury as capital to establish the “Land Bank of Taiwan” in accordance with ROC law on 1 September 1946 utilizing the five branches of the Nippon Kangyo Bank set up in Taipei
, Hsinchu
, Taichung
, Tainan
, and Kaohsiung
during the Japanese occupation
.
Its predecessor under Japanese rule was the Nippon Kangyo Bank
. NKB branches in Taipei
, Hsinchu
, Taichung
, Tainan and Kaohsiung
were taken over by the ROC government following the end of World War II, to facilitate the implementation of land policies such as land-rights equalisation and the land-to-the-tiller programme. The branches were reorganised into the Land Bank on September 1, 1946.
In May 1985, the Land Bank of Taiwan became qualified as a juristic person according to Article 52 of the Banking Act; on 21 December 1998, it became a state-run organization upon implementation of the Province Simplification Statute; on 1 July 2003, it was reorganized as the “Land Bank of Taiwan Co., Ltd.;” further on 21 May 2004, it was transformed into a public company to prepare for initial public offering of its stocks upon privatization.
Thanks to the determined reforms effected by the management team and the enthusiastic efforts made by the staff members, the Land Bank of Taiwan Co., Ltd. has ranked among the “World’s Top 200 Banks.” To respond to the overall financial landscape change and the fierce market competition, the Bank will not only continue to use its advantage as a real-estate specialty bank to conduct special loans pursuant to government policies to enhance national economic development, but also progressively increase its competitiveness and advance its internationalization to develop towards a full-scale regional financial institution of excellence.
The Overseas Branches and Offices are: LBOT Los Angeles Branch, LBOT Singapore Branch, LBOT Hong Kong Branch, LBOT Shanghai Representative Office in P.R.C. and LBOT Ho Chi Minh City Representative Office in Vietnam.
In addition, the LBOT sets up 6 Regional Centers in the form of a task force.
LBOT's Shanghai branch officially opened on December 29, 2010.
Standard & Poor’s, MAY 20 2009: A-, Outlook :Stable
Republic of China
The Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
(Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
).
It was owned by the Taiwan Provincial Government
Taiwan Province
Taiwan Province is one of the two administrative divisions referred to as provinces and is controlled by the Republic of China . The province covers approximately 73% of the territory controlled by the Republic of China...
before its downsizing on December 21, 1998, when it was transferred to the jurisdiction of the Executive Yuan
Executive Yuan
The Executive Yuan is the executive branch of the government of the Republic of China , commonly known as "Taiwan".-Organization and structure:...
.
It is the only bank designated by the ROC government as a specialised bank for handling real estate and agricultural credit. Its objective is to develop national economic construction in coordination with the implementation of the government's housing, agricultural, and land policies.
History
The history of the Land Bank of Taiwan dates from 1945 when the World War IIWorld War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
came to an end. To facilitate the implementation of land policies such as land-rights equalization and the land-to-the-tiller program in Taiwan, the government appropriated 60 million dollars from the national treasury as capital to establish the “Land Bank of Taiwan” in accordance with ROC law on 1 September 1946 utilizing the five branches of the Nippon Kangyo Bank set up in Taipei
Taipei
Taipei City is the capital of the Republic of China and the central city of the largest metropolitan area of Taiwan. Situated at the northern tip of the island, Taipei is located on the Tamsui River, and is about 25 km southwest of Keelung, its port on the Pacific Ocean...
, Hsinchu
Hsinchu
Hsinchu City is a city in northern Taiwan. Hsinchu is popularly nicknamed "The Windy City" for its windy climate.Hsinchu City is administered as a special municipality within Taiwan . The city is bordered by Hsinchu County to the north and east, Miaoli County to the south, and the Taiwan Strait...
, Taichung
Taichung
-Demographics:Taichung’s population was an estimated 1,040,725 in August 2006. There are slightly more females in the city than males.24.32% of residents are children, while 16.63% are young people, 52.68% are middle-age, and 6.73% are elderly....
, Tainan
Tainan
Tainan City is a city in southern Taiwan. It is the fifth largest after New Taipei, Kaohsiung, Taichung, and Taipei. It was formerly a provincial city, and in 2010, the provincial city merged with the adjacent Tainan County to form a single special municipality. Tainan faces the Taiwan Strait in...
, and Kaohsiung
Kaohsiung
Kaohsiung is a city located in southwestern Taiwan, facing the Taiwan Strait on the west. Kaohsiung, officially named Kaohsiung City, is divided into thirty-eight districts. The city is one of five special municipalities of the Republic of China...
during the Japanese occupation
Taiwan under Japanese rule
Between 1895 and 1945, Taiwan was a dependency of the Empire of Japan. The expansion into Taiwan was a part of Imperial Japan's general policy of southward expansion during the late 19th century....
.
Its predecessor under Japanese rule was the Nippon Kangyo Bank
Dai-Ichi Kangyo Bank
The , abbreviated as , was one of the largest banks in the world during the latter half of the 20th century. It combined with Fuji Bank and the Industrial Bank of Japan in 2000 to form Mizuho Financial Group....
. NKB branches in Taipei
Taipei
Taipei City is the capital of the Republic of China and the central city of the largest metropolitan area of Taiwan. Situated at the northern tip of the island, Taipei is located on the Tamsui River, and is about 25 km southwest of Keelung, its port on the Pacific Ocean...
, Hsinchu
Hsinchu
Hsinchu City is a city in northern Taiwan. Hsinchu is popularly nicknamed "The Windy City" for its windy climate.Hsinchu City is administered as a special municipality within Taiwan . The city is bordered by Hsinchu County to the north and east, Miaoli County to the south, and the Taiwan Strait...
, Taichung
Taichung
-Demographics:Taichung’s population was an estimated 1,040,725 in August 2006. There are slightly more females in the city than males.24.32% of residents are children, while 16.63% are young people, 52.68% are middle-age, and 6.73% are elderly....
, Tainan and Kaohsiung
Kaohsiung
Kaohsiung is a city located in southwestern Taiwan, facing the Taiwan Strait on the west. Kaohsiung, officially named Kaohsiung City, is divided into thirty-eight districts. The city is one of five special municipalities of the Republic of China...
were taken over by the ROC government following the end of World War II, to facilitate the implementation of land policies such as land-rights equalisation and the land-to-the-tiller programme. The branches were reorganised into the Land Bank on September 1, 1946.
In May 1985, the Land Bank of Taiwan became qualified as a juristic person according to Article 52 of the Banking Act; on 21 December 1998, it became a state-run organization upon implementation of the Province Simplification Statute; on 1 July 2003, it was reorganized as the “Land Bank of Taiwan Co., Ltd.;” further on 21 May 2004, it was transformed into a public company to prepare for initial public offering of its stocks upon privatization.
Thanks to the determined reforms effected by the management team and the enthusiastic efforts made by the staff members, the Land Bank of Taiwan Co., Ltd. has ranked among the “World’s Top 200 Banks.” To respond to the overall financial landscape change and the fierce market competition, the Bank will not only continue to use its advantage as a real-estate specialty bank to conduct special loans pursuant to government policies to enhance national economic development, but also progressively increase its competitiveness and advance its internationalization to develop towards a full-scale regional financial institution of excellence.
Organisation Structure
The LBOT's managerial structure consists of the head office with 22 units, 142 domestic branches (excluding OBU) in Taiwan, and 5 overseas branches and offices.The Overseas Branches and Offices are: LBOT Los Angeles Branch, LBOT Singapore Branch, LBOT Hong Kong Branch, LBOT Shanghai Representative Office in P.R.C. and LBOT Ho Chi Minh City Representative Office in Vietnam.
In addition, the LBOT sets up 6 Regional Centers in the form of a task force.
LBOT's Shanghai branch officially opened on December 29, 2010.
Credit Ratings
Moody’s Investors Service, DEC 02 2008: Aa3, Outlook :StableStandard & Poor’s, MAY 20 2009: A-, Outlook :Stable
See also
- Taiwan Land Reform MuseumTaiwan Land Reform MuseumThe Taiwan Land Reform Museum is a museum located in Taipei, Taiwan. It was established on March 11, 1967. The purpose of the museum is to commemorate Taiwan's land reform.-Land reform in Taiwan:...
- List of banks in Taiwan
- Republic of ChinaRepublic of ChinaThe Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
- Economy of TaiwanEconomy of TaiwanTaiwan has a developed capitalist economy that ranks as the 19th largest in the world by Purchasing power parity and 24th in nominal GDP of investment and foreign trade by the Republic of China government which governs Taiwan. In keeping with this trend, most large government-owned banks and...
- List of companies of Taiwan
- TaipeiTaipeiTaipei City is the capital of the Republic of China and the central city of the largest metropolitan area of Taiwan. Situated at the northern tip of the island, Taipei is located on the Tamsui River, and is about 25 km southwest of Keelung, its port on the Pacific Ocean...