Land Bank of Taiwan
Land Bank of Taiwan (Chinese: 臺灣土地銀行; pinyin: Táiwān Tǔdì Yínháng; Pe̍h-ōe-jī: Tâi-ôan-thó͘-tē-gîn-hâng, abbreviated "LBOT") is a wholly state-owned bank of the Republic of China (ROC).
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.
History
The history of the Land Bank of Taiwan dates from 1945 when World War II 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 ROC government appropriated 60 million dollars from the national treasury and took over the five branches of the Nippon Kangyo Bank (NKB) set up in Taipei, Hsinchu, Taichung, Tainan, and Kaohsiung during Japanese rule. The “Land Bank of Taiwan” was established in accordance with ROC law on 1 September 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 23 units, 148 domestic branches (excluding OBU) in Taiwan, and 6 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.
Staff Strength
As of year end 2008, the number of employees is 5,815 in total.
Credit Ratings
Moody’s Investors Service, DEC 02 2008: Aa3, Outlook :Stable
Standard & Poor’s, MAY 20 2009: A-, Outlook :Stable
See also
- Taiwan Land Reform Museum
- List of banks in Taiwan
- Republic of China
- Economy of Taiwan
- List of companies of Taiwan
- Taipei
External links
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