The First Bank Merger in Taiwan's Financial History
In the 1900s, the capital demand driven by the development of Taiwan’s industry resulted in a wave of capital increase in the financial sector. In 1910, facing the huge capital demand and the competitive pressure of emerging banks, Savings Bank of Taiwan, the second largest shareholder in Commercial and Industrial Bank of Taiwan, used a capital increase to seek autonomy through an expansion of the business. In 1912, Commercial and Industrial Bank of Taiwan merged with Savings Bank of Taiwan, increasing their combined capital from 1 million yen to 1.15 million yen, while moving the head office to Taipei, to become the private bank in Taiwan with the largest capital.