Moving Towards the Primary Goal of an International Bank
In 1967, First Bank launched its new foreign exchange business and revised the company strategy to focus primarily on ex- panding “international business” . In order to improve its international standing, in 1976, First Bank decided to push for a capital increase from NTD 544 million to NTD 1,088 million and renamed the company “First Commercial Bank” (FCB) the same year. Soon after, FCB began launching new ventures in overseas markets. Following the establishment of an office in Guam in 1973, FCB opened business units in international financial center to collect overseas business information. FCB es- tablished a branch in Singapore in 1977, at the center of the Asian market, focused on trade in United States dollars, and later, in 1984, FCB established a branch in London, at the very heart of world finance. Since then, FCB has been able to pro- vide vital financial backing for Taiwanese businessmen throughout the world. It is clear, FCB has taken great strides to- wards its goal of becoming a financial powerhouse of international standing.