TAIWAN COOPERATIVE BANK - 合作金庫銀行官方網站 Disclosure/Documents... · 0 0 5 Letter to...

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Contents

04 Letter to Shareholders10 Financial Highlights 12 Organization Chart & Bank’s Subsidiaries Chart14 Board of Directors & Supervisors & Executive Officers 16 Bank Profile17 Main Business Plans for 200918 Market Analysis 21 Risk Management24 Statement of Internal Control 26 Supervisors’ Report28 Financial Statements38 Consolidated Financial Statements48 Designated Foreign Exchange Banks53 Service Network

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Letter to Shareholders

2008ANNUAL REPORT

TAIWANCOOPERATIVEBANK

TCB and BNP Paribas Assurance Joint Venture "BNP Paribas Assurance TCB Life Insurance Company" Signing Ceremony

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Letter to Shareholders The global economic and financial turbulence that struck

in 2008 as a result of the financial tsunami was the worst since the Great Depression of the 1930s, and internationally known economic forecasting institutions constantly revised downward their growth predictions for different countries. International raw materials prices soared to repeated new record highs in the first half of the year and the world was clouded by the threat of inflation; fortunately, the prices of crude oil and raw materials embarked on a significant downward trend in July and the threat of inflation gradually receded. The high commodity prices had already affected the real economy; however, financial markets fell into a continuous deterioration, stock markets plummeted, investors’ losses were difficult to estimate, and the public’s wealth suffered a severe shrinkage. In the corporate sector orders declined sharply and large losses caused by falling inventory prices were recognized, bringing a flood of red ink and sending operations into extreme difficulty. Consumption and investment weakened, and the unemployment rate climbed rapidly. Governments everywhere moved one after another to revitalize their economies by introducing aggressive policies such as large-scale tax reductions and relief measures, and increased public spending.

After the American investment bank Bear Sterns was sold at a low price to JP Morgan Chase in March, the credit contraction began to loosen up. Beginning in July, however, bad news came in a constant stream, when the two big American mortgage institutions, Fannie Mae and

Freddie Mac, encountered operating crises; in September Lehman Brothers declared bankruptcy, the American International Group appealed to the U.S. Federal Reserve Board for emergency relief, and Iceland teetered on the brink of bankruptcy. These events plunged numerous major European and American banks into operating difficulty; the British, American, Belgian, and other central banks rushed to inject emergency funds and moving one after the other to adopt relief measures such as guaranteeing the full amount (or increased amounts) of bank loans and deposits, doing everything possible to alleviate the liquidity crisis and maintain stability in the financial market, and initiating a tide of bank nationalizations. To lessen the credit contraction in financial markets, major central banks all over the world, including those of the United States, Europe, the United Kingdom, and Switzerland, carried out an intensive series of large-scale interest-rate reductions that led the world into a period of low interest rates.

Teng-Cheng Liu, Chairperson

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international economy; the ongoing weakness that is afflicting the economies of major countries, however, is suppressing Taiwan’s foreign trade. Therefore, rapid action is needed to resume economic stability by expanding domestic demand and restoring corporate investment and consumer confidence. The banking industry will face a multitude of problems in 2009, including a continuous narrowing of interest-rate spreads as the Central Bank lowers interest rates to maintain a low-interest environment and competition among banks remains intense; the difficulty of expanding the wealth-management business, which has long been a major source of processing-fee income, until public confidence in investment is restored; and the weak ability of corporations and households to repay loans during the economic slump, which will affect the quality of banks’ loan assets. The TCB will strive to overcome these difficulties and reinforce its operating structure by strengthening risk management, reducing costs, and adopting a multi-faceted approach to the development of profit sources.

Under the double impact of soaring international raw materials prices and the financial storms, Taiwan’s economic growth rate slipped quarter by quarter in 2008 and the different performance indexes deteriorated. According to figures announced by the "Directorate-General of Budget, Accounting and Statistics", Taiwan’s economy managed to grow at a rate of only 0.12% in 2008. The stock market plummeted 46% during the year and exports posted negative growth for four months in a row beginning in September; in December, the export shrinkage fell to a record 41.9%. The unemployment rate climbed to a five-year high of 5.03%; the economic indicator score dropped to a low 9 points, and for four consecutive months the indicator showed a blue signal indicating slump. To stimulate an early economic recovery, the government issued consumption vouchers and passed a number of revitalization programs. As inflationary pressure lessened, the Central Bank initiated a series of five large discount-rate cuts in September, expanded the repurchase mechanism, and adopted other loose-money policy measures designed to boost liquidity in financial institutions and stimulate domestic demand by lowering the cost of loans for companies and individuals.

Under the impact of the international economic slump and financial storms, large numbers of financial institutions in Taiwan and elsewhere have suffered losses and have even been acquired by other institutions. The TCB recorded a pre-tax profit of NT$9.508 billion in 2008, a rare strong performance in difficult times. The loose monetary and expansionary fiscal policies that governments everywhere are adopting in 2009 will help to avoid a further worsening of the

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special zones to 255, burnishing the Bank’s wealth-management image.

The "Home-loan Fire Insurance Management System" was established.

Discretionary investment business inaugurated.

The Zihciang, Dong Taoyuan, and Lugang branches received permission to operate auxiliary futures trading services.

The Bank issued Taiwan’s first small-amount payment instrument usable in the contract stores of acquiring institutions: “TCB Pre-paid Card.”

A multiple-language system, foreign-currency enquiry, and global different-place release fund management services added to the financial EDI system.

The Bank engaged in the business of preliminary negotiations under the Consumer Debt Clearance ACT.

The Bank engaged in the “Ministry of the Interior Additional Allocation of NT$200 Billion in Preferential Loans” and “Winner Personal Consolidated Loan” businesses.

The Wealth Management Infinity Card, Home-loan Platinum Card, Government Internet Purchasing Card, and Business Card were promoted in order to attract quality customers and consolidate the Bank’s foundation.

Major Achievements in 2008

The Financial Supervisory Commission named the TCB as a Grade-A bank for the extension of loans to small and medium enterprises.

NT$5.5 billion worth of 7-year subordinated financial bonds and NT$4.5 billion in perpetual cumulative subordinated bonds were successfully floated, boosting the TCB’s capital adequacy ratio.

The Bank initiated the futures dealing business.

Four new branches were established: Kaohsiung Software Park, Sinhu, Bei Jhonghe, and Luchu.

Nine foreign-exchange branches and 15 mini foreign-exchange branches were established, and cash dealing in renminbi (RMB) currency was inaugurated at 158 business units.

The Hong Kong, Seattle, Los Angeles, and Manila branches received permission to engage in cross-straits financial operations, greatly facilitating the Bank’s development of its cross-straits financial business and expansion of its cross-straits Taiwanese business customer group.

The OBU foreign-currency composite savings-deposit business was instituted, providing a more diverse range of financial products.

The number of financial-planning flagship branches was increased to five and the number of financial-planning

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Tien Lin, President

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increase the percentage of overseas profits and develop in the direction of becoming an Asian regional bank.

Continuously develop new kinds of business and strengthen customized products so as to expand the wealth management business and broaden more sources of non-interest income.

Speed up the development of electronic channels for financial services and enhance the efficiency and security of information operations so as to provide customers with full-spectrum service value.

Deepen internal and external risk management so as to assure asset quality; strengthen bank-wide risk discipline and safety management so as to establish a high-quality working environment.

Carry through with the implementation and management of budget targets, continuously carry out the separation of costs and expenses system, and make flexible use of interest and foreign exchange rate policy to guide the allocation of capital effectively and upgrade overall operating performance.

Operating Strategies for 2009

Make full use of integrated marketing to expand demand deposits, for improving the deposit structure and lowering the funding cost.

Thoroughly implement the Bank’s loan policy, effectively control loan asset quality, and continuously develop loan businesses with niche advantage so as to enhance profitability.

Vigorously establish overseas branches and reinforce foreign-exchange and overseas loan businesses so as to

Operating Performance in 2008

Net interest income: NT$27,356,107,000.

Net non-interest income: NT$6,912,973,000.

Bad-debt expenses: NT$6,248,668,000.

Operating expenses: NT$18,512,537,000.

Income before income tax: NT$9,507,875,000.

Net income: NT$7,530,778,000.

Basic earnings per share: NT$1.38.

Diluted earnings per share: NT$1.37.

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Credit Card Business: NT$18.2 billion in card transactions

E-banking: NT$185 billion in online banking transactions, with NT$41 billion in credit card settlement transactions

Business Targets for 2009

Deposits: NT$1,937.7 billion (not including interbank deposits)

Loans: NT$1,808.4 billion (NT$1,092 billion in corporate loans and NT$716.4 billion in personal loans)

Guarantees: NT$54.35 billion

Foreign Exchange Transactions: US$78 billion

Investments: NT$262.3 billion

Trust Business: NT$142 billion, with custodial banking accounting for NT$84.5 billion

Commission income from wealth management trust products: NT$1.219 billion, with insurance fee income amounting to NT$0.4 billion

Securities : NT$275 billion

Teng-Cheng Liu, Chairperson; Tien Lin, President (front : from left to right)Chiu-Jung Tsai, Executive Vice President (EVP); David Hu, EVP; Chung-Dea Hsieh, EVP; John S.C. Chou, EVP; Chen-Yuan Tu, EVP; Yang-Jan Fan, EVP&General Auditor (from left to right)

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2008 2007 2006 2005 2004

CASH, CASH EQUIVALENTS AND DUE FROM THE CENTRAL BANK AND OTHER BANKS

- - - - 378,754,060

CASH, CASH EQUIVALENTS AND DUE FROM THE CENTRAL BANK AND CALL LOANS TO OTHER BANKS

424,355,643 456,860,304 427,274,105 514,225,498 -

SECURITIES PURCHASED, NET - - - - 309,471,455

FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS 31,259,237 41,748,515 47,521,600 22,114,804 -

SECURITIES PURCHASED UNDER RESELL AGREEMENTS - - - 219,173 -

AVAILABLE-FOR-SALE FINANCIAL ASSETS 64,785,297 60,247,280 61,907,516 55,670,846 -

BILLS, DISCOUNTS AND LOANS, NET - - - - 1,253,938,099

DISCOUNTS AND LOANS, NET 1,832,644,545 1,729,746,205 1,713,813,847 1,274,665,865 -

RECEIVABLES, NET 20,385,892 27,872,714 27,439,825 27,096,034 15,558,643

HELD-TO-MATURITY FINANCIAL ASSETS 8,171,079 7,527,062 3,163,176 3,281,479 -

EQUITY INVESTMENTS UNDER THE EQUITY METHOD 5,628,867 5,776,283 4,908,188 1,145,541 -

LONG-TERM INVESTMENTS - - - - 27,015,586

PROPERTIES, NET 34,030,468 33,866,474 33,591,776 26,690,671 20,101,427

INTANGIBLE ASSETS 3,624,616 3,434,078 3,494,158 - -

OTHER FINANCIAL ASSETS, NET 56,149,881 47,387,263 41,071,681 31,358,683 -

OTHER ASSETS, NET 6,096,156 7,078,466 9,229,352 9,474,080 24,175,631

TOTAL ASSETS 2,487,131,681 2,421,544,644 2,373,415,224 1,965,942,674 2,029,014,901

DUE TO THE CENTRAL BANK AND OTHER BANKS 202,656,838 254,816,364 254,411,303 249,060,945 269,101,897

DEPOSITS AND REMITTANCES 1,983,480,938 1,885,247,837 1,823,373,039 1,533,042,886 1,582,927,974

FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS 4,525,836 2,650,154 3,403,282 366,277 -

SECURITIES SOLD UNDER REPURCHASE AGREEMENTS 55,961,852 43,247,160 57,157,571 39,305,020 -

FUNDS BORROWED FROM THE CENTRAL BANK、BANK DEBENTURES 77,771,000 84,321,000 77,864,000 36,044,300 45,319,396

ACCRUED PENSION COSTS 1,763,570 1,645,063 1,293,153 292,014 -

OTHER FINANCIAL LIABILITIES 4,554,131 4,608,630 4,942,175 3,434,269 -

OTHER LIABILITIES 49,215,324 42,569,710 53,238,451 40,468,046 70,998,459

TOTAL LIABILITIES 2,379,929,489 2,319,105,918 2,275,682,974 1,902,013,757 1,968,347,726

CAPITAL STOCK 54,855,000 47,700,000 45,000,000 25,398,304 25,398,304

RESERVE FOR CAPITALIZATION - - - 2,539,830 -

CAPITAL SURPLUS-PAID-IN CAPITAL IN EXCESS OF PAR VALUE 32,207,944 32,207,944 34,907,944 23,696,319 29,274,539

RETAINED EARNINGS 16,586,850 18,732,715 12,720,380 8,176,723 5,801,247

REVALUATION INCREMENTS ON PROPERTIES 4,420,439 4,419,580 4,024,155 4,025,113 -

UNREALIZED GAINS ON FINANCIAL INSTRUMENTS 867,133 (896,081) 902,595 - -

CUMULATIVE TRANSLATION ADJUSTMENTS 162,980 274,568 177,176 92,628 193,085

TREASURY STOCK - 100,000 THOUSAND SHARES (1,898,154) - - - -

TOTAL STOCKHOLDERS' EQUITY 107,202,192 102,438,726 97,732,250 63,928,917 60,667,175

Financial Highlights Condensed Balance Sheet Unit : Thousands of New Taiwan Dollars

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NET INTEREST 27,356,107 24,349,684 21,287,921 16,429,931 -

NET REVENUES AND GAINS OTHER THAN INTEREST 6,912,973 10,214,607 12,060,593 8,062,913 -

ALLOWANCE FOR BAD-DEBT EXPENSES 6,248,668 4,678,962 6,987,444 - -

BAD-DEBT EXPENSES FOR LOANS - - - 5,389,910 -

OPERATING EXPENSES 18,512,537 17,943,915 15,970,732 16,299,069 -

OPERATING REVENUE - - - - 46,224,032

OPERATING COST AND EXPENSES - - - - 44,432,869

OPERATING INCOME - - - - 1,791,163

NONOPERATING REVENUE - - - - 1,034,809

NONOPERATING EXPENSES - - - - 1,791,645

INCOME BEFORE INCOME TAX 9,507,875 11,941,414 10,390,338 2,803,865 1,034,327

INCOME BEFORE CUMULATIVE EFFECT OF CHANGES IN ACCOUNTING PRINCIPLES

7,530,778 9,740,373 9,135,146 2,634,351 809,674

CUMULATIVE EFFECT OF CHANGES IN ACCOUNTING PRINCIPLES - - 40,062 - -

NET INCOME 7,530,778 9,740,373 9,175,208 2,634,351 809,674

Condensed STATEMENT OF INCOME Unit : Thousands of New Taiwan Dollars

2008 2007 2006 2005 2004

STABILITY RATIOS

DEBT RATIO(TOTAL LIABILITIES/TOTAL ASSETS) 95.67% 95.75% 95.86% 96.73% 96.97%

FIXED ASSETS/NET WORTH 31.74% 33.06% 34.37% 41.75% 33.13%

LIQUIDITY RESERVE RATIO 13.14 15.58 15.41 23.81 32.74

PROFITABILITY RATIOS

RETURN ON TOTAL ASSETS 0.31% 0.41% 0.42% 0.13% 0.04%

RETURN ON EQUITY 7.18% 9.73% 11.30% 4.23% 1.34%

NET INCOME RATIO 21.98% 28.18% 27.39% 10.76% 1.75%

EARNINGS PER SHARE 1.38 1.78 2.01 0.70 0.22

KEY RATIOS(%)

Credit Rating

Rating Agency GlobalLong Term

GlobalShort Term

National Long Term

NationalShort Term Outlook Release Date

S&P/TRC BBB+ A-2 twAA twA-1+ Stable 2009.02.09

Moody’s A2 P-1 Aa1.tw TW-1 Stable 2008.12.24

Credit Rating

Assets 2

Loans 2

Deposits 2

Branches 1

Domestic Ranking

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Organization Chart

Auditing Division,Board of DirectorsGeneral Auditor

Executive VicePresidentsPresidentBoard of Directors

Chairperson

CentralizedOperation Center

Training Center

Regional CreditManagement Center

Regional NPLManagement Center

Shareholders’Meeting

Secretariat,Board of Directors

Domestic Branches

Overseas SubsidiaryBank

Business ManagementDepartment

Personal BankingDepartment

Loan Assets ManagementDepartment

Corporate Banking Department

Credit ManagementDepartment

Wealth ManagementDepartment

Trust Department

Securities Department

Electronic BankingDepartment

Credit CardDepartment

TreasuryDepartment

International BankingDepartment

Information TechnologyDivision

Credit Analysis andResearch Division

Risk ManagementDivision

Human ResourceDivision

Security ManagementDivision

Accounting Division

Secretariat

Board of Supervisors

Domestic Subsidiaries

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Bank’s Subsidiaries Chart

Cooperative－IAsset Management

CorporationCo-operative Asset

Management Co., Ltd.

Cooperative InsuranceBrokers Co., Ltd.

TaiwanCooperative Bills

Finance Corporation

United Taiwan Bank

Shareholding 100.00%

Shareholding 100.00%

Shareholding100.00%

Shareholding70.00%

Shareholding50.56%

Taiwan CooperativeBank

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Board of Directors & Supervisors & Executive Officers

Board of Directors Executive Officers

Chairperson President

Teng-Cheng Liu Tien Lin

Managing Directors Executive Vice Presidents

Tien Lin John S.C. Chou

Hsien-Nung Kuei Chung-Dea Hsieh

Chuan-Chung Liu Chen-Yuan Tu

Tse-Ching Huang David Hu

Directors Chiu-Jung Tsai

Dai-Ming Fann

Jen-Poo Chen S.V.P. & G.M., Business Management Department

Ting-Jeng Chan Hong-Chen Lin

Kuo-Tay Chen S.V.P. & G.M., Corporate Banking Department

Che-Hui Huang Cheng-Hsiu Chen

Chih-Hsing Chang S.V.P. & G.M., Credit Management Department

Fu-Hsiung Hu Wen-Long Lin

Yen-Shu Tsai V.P. & G.M., Treasury Department

Jung-Ching Su Pe-Chu Wu

Chih-Yung Chen S.V.P. & G.M., International Banking Department

Sing-Lon Lin Michael M.J. Chang

Chih-Ching Lian V.P. & G.M., Personal Banking Department

Mao Liao

E. V. P. & General Auditor S.V.P. & G.M., Wealth Management Department

Yang-Jan Fan Meng-Chin Lin

S.V.P. & G.M., Trust Department

Wen-Jenq Wu

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Board of Supervisors Executive Officers

Resident Supervisor S.V.P .& G.M., Securities Department

Shou-Tzuoo Huang Shih-Chih Tsai

S.V.P. & G.M., Electronic Banking Department

Supervisors Chun-Lung Chuo

Len-E Chen S.V.P. & G.M., Credit Card Department

Kwo-Chun Lee Shiann-Wen Wu

Ching-Yu Cheng S.V.P. & G.M., Loan Assets Management Department

Dah-Wei Wu

S.V.P. & G.M., Secretariat

Fei-Ling Hu

S.V.P. & G.M., General Affairs Division

Hsueh-Tao Wu

V.P. & G.M., Accounting Division

Chen-Tsai Chou

S.V.P. & G.M., Information Technology Division

Hsiang Hu

S.V.P. & G.M., Credit Analysis and Research Division

Thomas K.T. Ho

V.P. & G.M., Risk Management Division

Shiaw-Yen Lun

S.V.P. & G.M., Human Resource Division

Wu-Lieh Tsai

S.V.P. & G.M., Legal Affairs Division

Chih-Cheng Peng

S.V.P. & G.M., Security Management Division

Che-Tsung Chang

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Bank Profile

Date of establishment : Oct. 5,1946.

History

The Bank was established in 1946 through the reorganization of the “Taiwan Industry Bank” of the Japanese-occupation era. Capitalization in the amount of 25 million Old Taiwan Dollars was provided by the Taiwan Provincial Government along with cooperative groups, farmers’ associations, fishermens’ associations, and irrigation associations. The operating scale of the Bank has been constantly expanded thanks to the efforts of its entire staff over the past 60 years, and at the end of 2008 its capitalization stood at NT$54.855 billion.

The Bank achieved corporate status under the provisions of Article 52 of the Banking Law in May 1985. It was reorganized as the Taiwan Cooperative Bank Co., Ltd. on Jan.1, 2001; went public in June 2003; was listed on the stock market on Nov.17, 2004; changed its Chinese name on February10, 2006, but its English name remains unchanged; and merged with The Farmers Bank of China on May 1 that year. As of Dec. 31, 2008 the Bank had a total of 306 domestic and overseas branches (including the Manila Branch, Los Angeles Branch, Seattle Branch, Hong Kong Branch and Beijing Representative Office), giving us the most extensive branch network of all Taiwan banks and putting us in a position of market leadership in share of deposits and loans. According to the statistics published in the July 2008 issue of The Banker magazine, in the assets ranking of top 1,000 banks the TCB placed 165 in the world and second in Taiwan, after only the Bank of Taiwan.

The TCB, Bank of Taiwan, Land Bank of Taiwan, and Taiwan Business Bank have jointly established the United Taiwan Bank in Belgium on Dec.23, 1992, with the TCB taking a 70% share of its equity. In addition, the TCB established the wholly-owned Co-operative Asset Management Co. on Oct.18, 2005 and, on Mar.22, 2006, boosted its capitalization to a total of NT$3.5billion.

On Nov.25, 2005 the Bank established the wholly-owned Cooperative Insurance Brokerage Co. with an investment of NT$10 million. Also, established Taiwan Cooperative Bills Finance Corporation with an investment

of NT$529,516 thousand via Debt-for-Equity Swap, and taking a 50.56% share of its equity.

Under the TCB Charter, the Bank is charged with carrying out the missions of operating a banking business, developing national economic construction, and providing financial adjustment for the farming and fishery industries. In addition to providing financing for cooperative enterprises, the farming and fishery industries, and small and medium enterprises, the TCB also offers deposit, loan, and foreign exchange services for business enterprises in general to facilitate funds utilization and promote overall economic development. This makes the TCB a consolidated international bank for farming, fishery, cooperative, and business financing.

TCB baseball team won the championship in the 2009 baseball tournament.

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Main Business Plans for 2009

Operational ManagementFull use will be made of the advantage provided by the Bank’s vast channel network of more than 300 branches, financial EDI and other electronic financial trading operations will be expanded, and the Bank will integrate its operations with inter-client cash-flow services to enlarge sources of demand deposits.

The substitution of demand deposits for time deposits as loan collateral will be thoroughly carried out to facilitate the lowering of funding costs and heighten the percentage of demand deposits.

Domestic and overseas branches will be added or their locations appropriately adjusted so as to increase demand deposits.

Corporate BankingThe Bank’s competitiveness will be enhanced so as to expand its foreign-exchange and offshore-loan businesses.

The "Collaborating with the SME Business Credit Guarantee Fund" mechanism will be used aggressively and SME financing continuously promoted.

The development of the transaction-based loan business will be strengthened so as to control the quality of loan assets effectively.

The loan structure will be adjusted constantly so as to enhance profitability.

Personal BankingThe principle of equal emphasis on quality and quantity will be espoused, and the high-quality home-loan and policy-type loan businesses will be aggressively expanded.

Risk management will be reinforced and “Personal Secured Home-loans by Region and Grade Measures” and “Personal Credit Loan Assessment System” mechanisms will be used to control loan quality.

Strategic alliances will be strengthened so as to expand the consumer financing business and increase processing fee income.

The TCB Pre-paid Card and nation-wide fee collection businesses will be constantly promoted so as to boost

demand deposits and fee income.

Financial Planning Nimble use will be made of intrabank funding rate adjustment strategy and planning will be carried out for introducing the funds transfer pricing (FTP) system, and the allocation of funds will be guided in line with bank-wide development directions in order to upgrade overall operating performance.

The professional manager of security business system will be implemented to enhance operating performance and market share.

Establishment of the electronic foreign-exchange financial trading platform will be strengthened to provide customers with a safe and speedy means of trading that is not subject to space limitations, thereby upgrading the Bank’s competitiveness.

Preliminary preparatory tasks for the establishment of the Suzhou Branch in Mainland China will be carried vigorously out so as to speed up the application process at this time of cross-straits financial policy liberalization.

Wealth ManagementA rich diversity of financial-planning products will be offered and choices of asset allocation will be increased; the Bank’s resources will be integrated with the needs of customers in the market so as to enhance marketing performance and increase wealth-management income.

Stable financial-management professionals will be cultivated and the marketing function of regional consultants will be upgraded; investment in the consulting function of R&D personnel will be promoted, and a competent investment management team will be established.

An investment trust asset management capability will be established, the discretionary investment business will be inaugurated, and the collective management account business will be set up.

Domestic and foreign fund products, structured products, and fixed-income bond products will be carefully selected to provide customers with a wide range of product choices.

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Market Analysis

Areas of Service

The TCB is a comprehensive bank that provides service in the fields of corporate banking, personal banking, wealth management, and others through a nation-wide network of branches. At the end of 2008 the Bank had a total of 301 domestic business units; the largest number of these was in Taipei City, with 70 branches, followed by Taipei County with 40 branches and Taichung City with 30 branches. The Bank also had six overseas units, scattered in Belgium, Manila, Seattle, Los Angeles, and Hong Kong, and a representative office in Beijing.

Future Supply and Demand in the Market, and Growth Potential

On the supply side, the pressure of excessive competition among domestic financial institutions continues to exist. The high degree of product similarity and intense price competition among domestic banks has led to a continuous narrowing of interest-rate spreads and a contraction in the room for profit, a situation that cannot easily be changed. Under the stimulation of the government’s financial reform policy, domestic public and private financial institutions are using cross-industry operations or M&A to expand their operating territory and heighten their market share; they are also employing constant organizational re-adjustment and system integration to lower costs and improve operating performance, and are placing added emphasis on the improvement of their financial structure and the reinforcement of their risk-control capability.

On the demand side, the popularization of e-commerce and other changes in the form of consumption have prompted financial institutions to constantly introduce new kinds of business. Although the American subprime mortgage turmoil and the Lehman Brothers incident struck a heavy blow at the wealth-management business in Taiwan, the willingness of the island’s people to save topping the world for three years and the reduction of inheritance and gift taxes leave huge potential for development of the domestic wealth-management market. Demand expansion by the island’s banking industry will continue to focus on services

such as investment advice, tax planning, and financial-planning products. In addition to this, the expected signing of a "Memorandum of Understanding on Cross-Straits Financial Supervision" will bring new opportunities in cross-straits finance and services for Taiwanese businessmen in China.

Competitive Advantages

Development into a benchmark bank

Over the decades of stable operation since reorganization from its inception in 1946 as the "Taiwan Industry Bank" during the period of Japanese occupation, the TCB has developed into Taiwan’s second-largest bank in terms of asset scale and market share of deposits and loans, and the island’s leader in SME loans and the organizer of syndicated loans.

A strong advantage in marketing channels

The TCB’s domestic business units number more than 300; in addition to providing a full spectrum of professional financial services, they emphasize manpower training so as to strengthen and maintain customer relationships and win the loyalty and trust of clients. This advantage in marketing channels helps the Bank to develop and deeply cultivate the consumer finance and wealth management businesses, thereby creating greater room for profit growth.

A large corporate client base

The TCB enjoys a large and solid base of corporate clients and uses organizational re-engineering, the integration of electronic transaction platforms, and strategic alliances to continuously strengthen and consolidate its advantage in the corporate loan, deposit, foreign exchange, Offshore Banking Unit(OBU), Treasury Marketing Unit(TMU), and electronic financial businesses.

Aggressive development of overseas markets

The TCB received permission to establish the Beijing Representative Office in 2002, and in recent years has

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Unfavorable Factors

The slowdown in economic growth and the contraction of the credit market have had an impact on many kinds of business, including those like wealth management and corporate financing that are highly sensitive to the investment market; operating risk has increase and the real estate market has weakened, and the quality of corporate-loan and home-loan assets should be watched carefully in the future.

While the interest-reduction policy adopted by the Central Bank in order to revitalize the economy has lowered the funding cost, for the banking industry, with its fierce market competition, it has led to a continuous shrinkage in the interest-rate spread and made it difficult to improve profits.

The rising popularity of direct financing and the steady diversification of corporate fund-raising models are unfavorable to business promotion by banks, which depend mainly on the indirect financing market.

If mainland Chinese banks are allowed to establish branches in Taiwan after the two sides of the Taiwan Straits sign a "Memorandum of Understanding on Financial Supervision", the Chinese banks will be able to use the advantage provided by their China-wide branch networks to attract Taiwanese businessmen—even though the quality of their services may be inferior to that of Taiwanese banks. In the signing of such an MOU, therefore, the banks’ concerns are focused on how to coordinate the extent of cross-straits financial liberalization.

The rapid increase in the number of branches of foreign banks in Taiwan constitutes a new threat to the wealth-management business of domestic banks and to the SME financing market, with its local-operation advantage.

Countermeasures

Electronic channels will be promoted and the collection business will be strengthened in order to increase demand deposits, improve the deposit structure, and lower the funding cost.

devoted its efforts to cross-straits financial exchange and the provision of services to Taiwanese businessmen in China. Once the two sides sign a "Memorandum of Understanding on Cross-Straits Financial Supervision" and open up Taiwanese financial services there, the TCB will make plans to set up a branch in Suzhou, where there is a dense concentration of Taiwanese businesses. In addition, applications for branches in Ho Chi Minh City and Sydney are expected to be finalized in 2009, and a branch in Singapore is under evaluation. The Bank is currently advancing steadily toward its goal of becoming an Asian regional bank.

Favorable and Unfavorable Factors in Future Development, and Countermeasures

Favorable Factors

With Taiwan’s government opening up operations in the mainland Chinese market to domestic financial institutions, once the Financial Supervisory Commission signs an MOU on financial supervision, banks will be able to add business units and expand the scope of operations in China, thereby enhancing their services to Taiwanese businessmen and boosting their business opportunities in China.

With the government’s ongoing promotion of banking consolidation, the resulting expansion of the scale of bank operations will help enhance competitiveness.

Following the outbreak of the subprime mortgage turmoil, the convergence of three developments—the establishment of rules by the authorities, better understanding by consumers of the products they purchase, and self-discipline by operators—mitigates for the healthy growth of the wealth-management market. At a time when some private banks are losing clients because of wealth-management disputes arising from the inappropriate marketing of structured debt products, the TCB will consolidate its existing customers and work vigorously to develop new clients.

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Risk management will be thoroughly implemented, and industrial diversification and quality-over-quantity methods will be adopted, to enhance the quality of the Bank’s investment and loan assets for preventing the occurrence of bad debt.

Electronic foreign-exchange systems will be continuously heightened and trends in international trade will be followed; the import business will be developed in the direction of T/T and accounts payable, and the export business in the direction of export loans and factoring.

With profits low in the intensely competitive domestic market, the OBU business will be constantly fortified and the pace of overseas deployment will be speeded up so as to increase the ratio of overseas profit.

New customers will be vigorously absorbed and original customers will be consolidated and deeply cultivated; professional financial-planner training will be constantly strengthened, and customized financial-planning services will be reinforced so as to help customers handle risk management properly. At the same time, consideration will be given to how to provide products that conserve value and increase returns for personal capital that is utilized at low efficiency in this time of near-zero interest rates. On the one hand this will relieve the capital pressure on the increase in the Bank’s time deposits, and on the other hand it will increase the growth in non-interest income and create win-win opportunities for both the Bank and its customers.

Manpower training will be strengthened and personnel will be cultivated to have expertise, character, and an international view so that the Bank, even as it pursues growth, will be able to develop on a sustainable and healthy basis.

In the face of the trend toward consolidation and a competitive environment in the age of financial holding companies, besides keeping firmly to its core businesses the TCB will also review its long-term operating strategies with the aim of using complementary alliances or M&As to build up its competitiveness and achieve operating synergies that will give it a more comprehensive

range of cross-industry financial operations.

The debt collection business will be intensified and emphasis will be placed on peaceful resolution and the negotiation of time payments, the expansion of authorization, and the simplification of procedures so as to boost flexibility in handling debt and facilitate the recovery of debt.

TCB sponsors Mammoth exhibition.

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Risk Management

Credit Risk Management System

Credit Risk Strategies, Goals, Policies, and Procedures

The TCB’s credit-risk strategies are established in accordance with overall risk management targets, and are with the use of an effective risk management mechanism to identify, measure, monitor, and control different items of risk to fulfill the requirements of Basel II Accord .

The Bank implements pre-loan screening and post-loan follow-up management, and makes judgments in accordance with information provided by the Joint Credit Information Center and Taiwan Clearing House and Credit Rating Agencies. Risk management is also carried out in the consideration of trends in industrial growth and the needs of regional development, and on the basis of five principles: safety, liquidity, fairness, profitability, and growth potential.

To establish an objective credit investigation mechanism,the Bank is implementing the credit-risk scoring and rating tools that will use systematic and objective models to quantify risk and keep it within bearable limits.

Organization and Framework of Credit Risk Management

The Board of Directors is the Bank’s highest policymaking body for risk management, and bears ultimate responsibility for the Bank’s credit risk.

The Risk Management Committee operates the credit risk management mechanism in accordance with credit risk decisions approved by the Board of Directors, reviews credit risk regulations, provides interdepartmental coordination on matters regarding credit r isk management, and continuously monitors the performance of implementation.

The headquarters and branches have established Credit Management Committees to review loan cases ,and to approve or reject loan applications in accordance with their level of loan authorization.

The Auditing Division of the Board of Directors carries

out its auditing business in a spirit of independence, with at least one inspection per year of businesses related to credit risk and the provision of suggestions for improvement whenever necessary.

A Loan Assets Management Committee has been set up to review the disposition and writing off of non-performing loans and loans for collection, and the writing off of losses from the disposition of assumed collateral, so as to strengthen the management of NPLs and loans for collection.

The Corporate Banking Department is responsible for loan review work and for supervising the business units in post-loan review and follow-up management. In case of irregularity in the operation of business units or in important loan cases, special reviews will be carried out as necessary, the causes of the irregularities will be investigated, and criticisms will be raised.

Scope and Characteristics of the Credit Risk Reporting and Measuring System

The Bank submits a regular Credit Risk Information Report (including information on risk positions, asset quality, limits utilization, and exceptional incidents) to high management levels (the Risk Management Committee) and the Board of Directors to serve as a reference in decision-making.

Hedging Policy, and Strategies and Procedures for Monitoring the Continuing Effectiveness of Risk-Hedging Tools

The TCB has established the Loan and Investment Policy and Credit Risk Management Criteria, and has set up rules for the concentration of different kinds of credit risk and for dealings with materially interested parties so as to manage credit risk effectively and reinforce the Bank’s credit risk management mechanism.

The Bank observes the limit regulations established by the competent agencies in its loan and investment businesses.

The Bank sets limits for the same enterprise, business group, industry, country, and type of collateral, and monitors the limits constantly. It also readjusts the limits

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on regular and irregular bases so as to avoid the excessive concentration of risk and assure the Bank’s stable operation.

To reduce risk, the Bank carries out its loans or investment business by soliciting suitable collateral or guarantees in accordance with the credit situation of loan clients

Operational Risk Management System

Strategies and Procedures

The Bank’s strategy for dealing with operational risk is to evaluate the severity and probability of the occurrence of exposure to potential operational risks that have been identified, and then adopt risk hedging, transfer or mitigation, reduction, assumption, or other countermeasures to maintain operational safety and a healthy operating structure that will reduce losses from operational risk.

The process of operational risk management includes identification, measuring, monitoring, and reporting. A healthy operational risk management mechanism is used to identify such internal and external factors as business characteristics, personnel, systems, and operating environment; risk is then measured with regard to causes, results, incidence, and impact, and indexes such as operational procedures, personnel, systems, and external incidents are monitored regularly.

Organization and Framework

The Board of Directors is the Bank’s highest unit of policymaking for operational risk management, and the Risk Management Committee monitors the performance of management and implementation in accordance with the policies of the Board of Directors.

The Risk Management Division formulates bank-wide strategies and procedures for operational risk management, designs and introduces operational risk management mechanisms and tools, establishes and manages the bank-wide loss databank, and reports on operational risk incidents and gives suggestions to the Risk Management Committee and Board of Directors on a regular basis.

Units and personnel at all levels of the Bank observe the Bank’s operational rules, taking care of any operational risks that arise and reporting them immediately. Headquarters units manage and supervise the performance of units throughout the bank in carrying out risk management.

The Auditing Office of the Board of Directors carries out an inspection of the risk management mechanism and loss incident reporting of each unit at least once a year.

Scope and Characteristics of the Operational Risk Reporting and Measurement System

To effectively identify, measure, monitor, and report on all kinds of potential operational risks in everyday business activities and management procedures, the Bank has established and centralized a database for the bank-wide management of operational risk incidents, including recording and following up on the causes for the occurrence of risk incidents, amount of losses, disposition process, and impact. Beginning in 2007, analytical reports on bank-wide operational risk information and status of management are submitted regularly to the Risk Management Committee and Board of Directors.

Risk Hedging and Risk Mitigation Policies, and Monitoring of Strategies and Procedures for the Continuing Effectiveness of Hedging and Mitigation Tools

Operational rules have been established and implemented in everyday operations; a reporting mechanism for incidents causing losses has been set up, together with self-assessment by the different units and the auditing work of Bank headquarters; and reports are compiled and submitted with the purpose of preventing, and reducing, operational risk.

In its operational risk mitigation policy the Bank uses insurance or outsourcing to transfer or mitigate operational risk. It takes out comprehensive banking insurance (including coverage for disloyal behavior by employees, business venues and goods during shipment, counterfeiting of bills and securities, counterfeiting of money, and negligent loss), and fire. Operational risk in outsourcing is prevented by following the rules of the

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Scope and Characteristics of the Market Risk Reporting and Measurement System

The TCB’s market risk management procedures include identification, assessment, measuring, monitoring, and reporting. Risk management personnel of the different units analyze market risk positions within the scope of their responsibilities; assessment and measurement methods include statistical basic measurement methods, sensitivity analysis, and scenario analysis. Monitoring is used to determine whether trading units as well as the overall and individual trading procedures for financial products, including changes in position, changes in profit and loss, trading models, and trading instruments, conform to the rules, and whether they are carried out within limits and scope of authorization.

The different trading units report trading information to their superior units on a real-time, daily, or scheduled basis, and assure the accuracy and validity of the information. The Risk Management Division submits regular reports and suggestions to the Risk Management Committee and the Board of Directors on the bank-wide implementation of market risk management, including such factors as market risk positions, risk levels, profit and loss, limits utilization, and the status of conformance with market risk management regulations.

Hedging and Mitigation Policy, and Monitoring of the Continuing Effectiveness of Hedging and Risk Mitigation Policies and Procedures

The Bank’s current risk-avoidance activity is used primarily to avoid the risk of foreign exchange and interest rate changes when investing in foreign-currency capital and securities, and hedging tools are confined mainly to derivative swaps. To assess changes in profit and loss from hedging activities, derivatives traded in hedging transactions are evaluated at least twice a month as to their market value and are combined with the evaluation of profit and loss on hedging products in reports that are submitted to the Bank’s risk management officials at least twice a month. In addition, monthly reports are submitted to the Board of Directors, and, on a seasonal basis, to the Risk Management Committee.

Criteria for the Outsourcing of Operations by the Taiwan Cooperative Bank.

Market Risk Management System

Strategies and Procedures

The Bank bases its market risk management policies on its overall risk management goals and product characteristics, sets investment authorization limits and stop-loss rules, and regularly evaluates and collates management information reports so as to effectively control market risks.

Organization and Framework

The Board of Directors is the Bank’s highest policymaking body for risk management, and bears ultimate responsibility for the Bank’s market risk.

The Bank’s Risk Management Committee operates the market risk management mechanism in accordance with management decisions approved by the Board of Directors, reviews the limits for different kinds of market risk as well as limits at the sectoral level, and reviews changes in business strategies and market conditions on a scheduled basis or whenever necessary.

The Bank’s Risk Management Division carries out the work of overall market risk management bank-wide, playing the role of a centralized middle office.

The mid-office personnel of the different trading units follow the Bank’s market risk management regulations in managing everyday operations in real time, monitor different limits actively, and submit regular reports to the Risk Management Division.

The Auditing Division of the Board of Directors carries out its auditing business in a spirit of independence, with at least one inspection per year of businesses related to market risk and the provision of suggestions for improvement whenever necessary.

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Taiwan Cooperative Bank Statement of Internal Control

On behalf of the Taiwan Cooperative Bank we declare that during the period of Jan. 1, 2008 through Dec. 31, 2008 the Taiwan Cooperative Bank did conform to the provisions of the Implementation Rules for Banks’ Internal Control and Auditing Systems by establishing an internal control system, carrying out risk management, and having audits carried out by an impartial and independent auditing unit, with reports submitted on a regular basis to the Boards of Directors and Supervisors. In its operation of the securities business, the Bank assessed the effectiveness of the establishment and implementation of its internal control system in accordance with the items for judgment of the effectiveness of internal control system as contained in the Regulations Governing the Establishment of Internal Control System by Service Enterprises in Securities and Futures Markets promulgated by the Securities and Futures Bureau of the Financial Supervisory Commission. Careful assessment shows that the Bank’s units did effectively carry out internal control and regulatory compliance during this year. This Statement will become a major part of the Bank’s annual report and its public announcements, and will be made public. Any fraudulent statements, undisclosed items, or other illegality will incur legal responsibility under Articles 20, 32, 171, and 174 of the Securities and Exchange Act.

Submitted to the Financial Supervisory Commission, Executive Yuan

Attestor

Chairperson :

President :

General Auditor :

Compliance Officer :

Feb. 25, 2009

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Statement Internal Control of Securities Business

According to a self-audit carried out by the Taiwan Cooperative Bank, the internal control system of the Bank did conform to the following conditions during the period of Jan.1, 2008 through Dec.31, 2008:

1.The Taiwan Cooperative Bank fully realizes that the establishment, implementation, and maintenance of an internal control system is the responsibility of the Bank’s Board of Directors and management team, and has in fact established such a system. The purpose of the system is to provide reasonable assurance that the objectives of effective and efficient business operations (including profitability, performance, and protection of asset quality), the reliability of financial reporting, and compliance with related laws and regulations are being achieved.

2.Internal control systems have inherent limitations, however well they are designed, and an effective international control system can only provide reasonable assurance of the achievement of the three objectives mentioned above. Moreover, the effectiveness of an internal control system may change along with environmental or situational changes. However, the Bank’s internal control system contains a self-monitoring mechanism, and corrective action is taken as soon as a deficiency is identified.

3.Based on the judgment items in the criteria for evaluation of internal control systems as contained in the Guidelines for the Establishment of Internal Control Systems by Securities and Futures Enterprises, the TCB has carried out an evaluation to ascertain the effectiveness of the design and implementation of its internal control system. The criteria adopted for the evaluation of internal control systems under the Guidelines include five factors: (1) the control environment, (2) risk evaluation, (3) control operations, (4) information and communication, and (5) supervision. Each of these component elements contains a number of items. For detailed information on these items, please refer to the provisions of the Guidelines.

4.The TCB has adopted the internal control judgment criteria mentioned above to evaluate the effectiveness of the establishment and implementation of its internal control system.

5.Based on the results of the evaluation mentioned above, we believe that the establishment and implementation of the internal control system (including the supervision and management of subsidiaries) during the period mentioned above, including the extent of achievement of the known operational effectiveness and efficiency objectives, the reliability of financial reporting, and compliance with related laws and regulations, were effective and able to assure the reasonable achievement of the objectives described above.

6.This Statement will become a major part of the TCB’s Annual Report and Public Statement, and will be released to the public. Any discrepancy or omission in the content of the public statement would be a violation of Articles 20, 32, 171, and 174 of the Securities and Exchange Act and would incur legal responsibility.

7.The content of this Statement was approved by the 17 directors present at the TCB Board of Directors Meeting on Feb.16, 2009, with no objection.

Taiwan Cooperative Bank

Chairperson :

President :

Feb. 19, 2009

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Supervisors’ Report

We have examined, in accordance with Article 219 of the Company Law, the financial statements and consolidated financial statements, proposed distribution of profit, and business reports as certified by Li-Chi Chen and Hung-husiang Tsai of Deloitte & Touche, and have found no discrepancies.

Taiwan Cooperative Bank

Resident Supervisor :

Supervisor :

Supervisor :

Supervisor :

Mar. 26, 2009

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INDEPENDENT AUDITORS’ REPORT

The Board of Directors and the Stockholders

Taiwan Cooperative Bank, Ltd.

We have audited the accompanying balance sheets of Taiwan Cooperative Bank, Ltd. as of December 31, 2008 and 2007, and the related statements of income, changes in stockholders’ equity and cash flows for the years then ended. These financial statements are the responsibility of the Bank’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the Rules Governing the Audit of Financial Statements of Financial Institutions by Certified Public Accountants and auditing standards generally accepted in the Republic of China. Those rules and standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, based on our audits, the financial statements referred to above present fairly, in all material respects, the financial position of Taiwan Cooperative Bank, Ltd. as of December 31, 2008 and 2007, and the results of its operations and its cash flows for the years then ended, in conformity with the Guidelines Governing the Preparation of Financial Reports by Public Banks, Guidelines Governing the Preparation of Financial Reports by Futures Commission Merchants, requirements of the Business Accounting Law and Guidelines Governing Business Accounting relevant to financial accounting standards, and accounting principles generally accepted in the Republic of China.

As stated in Note 3 to the financial statements, under an explanation issued by the Accounting Research and Development Foundation of the Republic of China, Taiwan Cooperative Bank, Ltd. should recognize bonus to employees and remuneration to directors and supervisors as compensation expenses effective January 1, 2008. These bonus and remuneration were previously recorded as appropriations from earnings.

As stated in Notes 3 and 32 to the financial statements, Taiwan Cooperative Bank, Ltd. reclassified its financial assets in accordance with the newly amended Statement of Financial Accounting Standards No. 34 - “Financial Instruments: Recognition and Measurement”.

Financial Statements

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We have also audited the consolidated financial statements of Taiwan Cooperative Bank, Ltd. and its subsidiaries as of and for the years ended December 31, 2008 and 2007, on which we have issued a modified unqualified opinion and an unqualified opinion thereon, respectively, in our report dated March 2, 2009 (not presented herewith).

March 2, 2009

Notice to Readers

The accompanying financial statements are intended only to present the financial position, results of operations and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such financial statements are those generally accepted and applied in the Republic of China.

For the convenience of readers, the auditors’ report and the accompanying financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language auditors’ report and financial statements shall prevail.

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030

2008 2007Percentage

Increase (Decrease)

ASSETS Amount Amount %

CASH AND CASH EQUIVALENTS (Notes 4 and 28) $ 40,592,528 $ 32,500,510 25

DUE FROM THE CENTRAL BANK AND CALL LOANS TO OTHER BANKS (Notes 5, 28 and 29) 383,763,115 424,359,794 ( 10)

FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS (Notes 2, 3, 6 and 32) 31,259,237 41,748,515 ( 25)

RECEIVABLES, NET (Notes 2, 7 and 28) 20,385,892 27,872,714 ( 27)

DISCOUNTS AND LOANS, NET (Notes 2, 8 and 28) 1,832,644,545 1,729,746,205 6

AVAILABLE-FOR-SALE FINANCIAL ASSETS (Notes 2, 3, 9 and 32) 64,785,297 60,247,280 8

HELD-TO-MATURITY FINANCIAL ASSETS (Notes 2 and 10) 8,171,079 7,527,062 9

EQUITY INVESTMENTS UNDER THE EQUITY METHOD (Notes 2 and 11) 5,628,867 5,776,283 ( 3)

OTHER FINANCIAL ASSETS, NET (Notes 2 and 12) 56,149,881 47,387,263 18

PROPERTIES (Notes 2 and 13)

Land (including revaluation increments) 22,481,984 22,211,380 1

Buildings 13,098,990 13,017,330 1

Machinery and equipment 5,208,396 4,768,094 9

Transportation equipment 687,117 687,891 -

Other equipment 1,299,766 1,280,397 2

Leasehold improvements 641,208 565,913 13

43,417,461 42,531,005 2

Less: Accumulated depreciation 9,428,473 8,689,285 9

Less: Accumulated impairment 1,114 86,215 ( 99)

33,987,874 33,755,505 1

Construction in progress 24,476 42,545 ( 42)

Prepayment for land and buildings - 54,664 ( 100)

Prepayment for equipment 18,118 13,760 32

Properties, net 34,030,468 33,866,474 -

INTANGIBLE ASSETS (Notes 2, 3 and 14) 3,624,616 3,434,078 6

OTHER ASSETS, NET (Notes 2, 15, 25 and 30)

Nonoperating assets, net 3,834,123 3,961,244 ( 3)

Refundable deposits 994,879 1,094,801 ( 9)

Collaterals assumed, net 741,948 985,947 ( 25)

Operating deposits and settlement funds 96,832 96,806 -

Deferred income tax assets, net - 694,462 ( 100)

Others 428,374 245,206 75

Other assets, net 6,096,156 7,078,466 ( 14)

TOTAL $ 2,487,131,681 $ 2,421,544,644 3

TAIWAN COOPERATIVE BANK, LTD. BALANCE SHEETS

DECEMBER 31, 2008 AND 2007

(In Thousands of New Taiwan Dollars, Except Par Value)

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2008 2007Percentage

Increase (Decrease)

LIABILITIES AND STOCKHOLDERS’EQUITY Amount Amount %

DUE TO THE CENTRAL BANK AND OTHER BANKS (Notes 16 and 28) $ 202,656,838 $ 254,816,364 ( 20)

FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR

LOSS (Notes 2, 6 and 20)4,525,836 2,650,154 71

SECURITIES SOLD UNDER REPURCHASE AGREEMENTS (Notes 2, 6, 9, 12 and 17) 55,961,852 43,247,160 29

PAYABLES (Note 18) 45,943,097 39,115,542 17

DEPOSITS AND REMITTANCES (Notes 19 and 28) 1,983,480,938 1,885,247,837 5

BANK DEBENTURES (Note 20) 77,771,000 84,321,000 ( 8)

ACCRUED PENSION COST (Notes 2 and 23) 1,763,570 1,645,063 7

OTHER FINANCIAL LIABILITIES (Notes 21 and 28) 4,554,131 4,608,630 ( 1)

OTHER LIABILITIES (Notes 2, 13, 22, 25 and 28) 3,272,227 3,454,168 ( 5)

Total liabilities 2,379,929,489 2,319,105,918 3

STOCKHOLDERS' EQUITY

Capital

Common stock - NT$10.00 par value; authorized 6,000,000

thousand shares; issued and outstanding 5,485,500 thousand

shares in 2008 and 4,770,000 thousand shares in 2007 54,855,000 47,700,000 15

Capital surplus - additional paid-in capital from share

issuance in excess of par value 32,207,944 32,207,944 -

Retained earnings

Legal reserve 8,993,862 6,071,750 48

Unappropriated earnings 7,592,988 12,660,965 ( 40)

Total retained earnings 16,586,850 18,732,715 ( 11)

Other equity

Unrealized revaluation increments 4,420,439 4,419,580 -

Cumulative translation adjustments 162,980 274,568 ( 41)

Unrealized gain (loss) on financial instruments 867,133 ( 896,081) 197

Treasury stock - 100,000 thousand shares ( 1,898,154) - -

Total other equity 3,552,398 3,798,067 ( 6)

Total stockholders' equity 107,202,192 102,438,726 5

CONTINGENCIES AND COMMITMENTS (Notes 2 and 30)

TOTAL $ 2,487,131,681 $ 2,421,544,644 3

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TAIWAN COOPERATIVE BANK, LTD. STATEMENTS OF INCOME

YEARS ENDED DECEMBER 31, 2008 AND 2007

(In Thousands of New Taiwan Dollars, Except Per Share Amounts)

2008 2007Percentage

Increase (Decrease)

Amount Amount %

INTEREST REVENUE (Notes 2, 28 and 32) $ 71,779,904 $ 66,367,211 8

INTEREST EXPENSE (Notes 2, 28 and 32) ( 44,423,797) ( 42,017,527) 6

NET INTEREST 27,356,107 24,349,684 12

NET REVENUE AND GAIN (LOSS) OTHER THAN INTEREST

Service fee income, net (Notes 2, 28 and 32) 3,467,406 3,332,734 4

Loss on financial assets and liabilities at fair value through profit or loss (Notes 2, and 32)

( 4,689,947) ( 148,847) 3,051

Realized gain on available-for-sale financial assets (Notes 2, and 32) 156,358 667,864 ( 77)

Realized loss on held-to-maturity financial assets (Note 2) ( 140,354) - -

Income (loss) from equity investments under the equity method (Notes 2, and 11) ( 96,152) 341,711 ( 128)

Foreign exchange gain, net (Note 2) 5,314,865 579,098 818

Impairment loss on assets (Notes 2, 12 and 15) ( 686,006) ( 439,680) 56

Gain on financial assets carried at cost (Note 2) 411,939 617,887 ( 33)

Gain on disposal of properties and nonoperating assets (Note 2) 298,495 1,120,181 ( 73)

Recovery of bad debts written off and overdue accounts 2,537,842 3,599,636 ( 29)

Other noninterest gain, net (Notes 2, and 28) 338,527 544,023 ( 38)

Total net revenue and gain (loss) other than interest 6,912,973 10,214,607 ( 32)

TOTAL NET REVENUE 34,269,080 34,564,291 ( 1)

ALLOWANCE FOR BAD-DEBT EXPENSES (Notes 2, and 8) ( 6,248,668) ( 4,678,962) 34

OPERATING EXPENSES

Personnel (Notes 2, 3 and 24) ( 12,338,982) ( 11,842,537) 4

Depreciation and amortization (Notes 2, and 24) ( 1,105,344) ( 1,103,517) -

General and administrative ( 5,068,211) ( 4,997,861) 1

Total operating expenses ( 18,512,537) ( 17,943,915) 3

(Continued)

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2008 2007

Before Income

After Income

Before Income

After Income

Tax Tax Tax Tax

EARNINGS PER SHARE (Note 27)

Basic earnings per share $ 1.74 $ 1.38 $ 2.18 $ 1.78

Diluted earnings per share $ 1.73 $ 1.37 $ 2.18 $ 1.78

(Concluded)

2008 2007Percentage

Increase (Decrease)

Amount Amount %

INCOME BEFORE INCOME TAX $ 9,507,875 $ 11,941,414 ( 20)

INCOME TAX EXPENSE (Notes 2, and 25) ( 1,977,097) ( 2,201,041) ( 10)

NET INCOME $ 7,530,778 $ 9,740,373 ( 23)

TAIWAN COOPERATIVE BANK, LTD. STATEMENTS OF INCOME



TCB Public Welfare campaign---Baseball Camp.

TAIWANCOOPERATIVE


034

AN

NU

AL

RE

PO

RT

2008

TAIWANCOOPERATIVE


TAIW

AN

CO

OP

ER

ATIV

E B

AN

K, L

TD

S

TA

TE

ME

NT

S O

F C

HA

NG

ES

IN S

TO

CK

HO

LD

ER

S' E

QU

ITY

YE

AR

S E

ND

ED

DE

CE

MB

ER

31, 2008 A

ND

2007

(In T

housa

nds o

f N

ew

Taiw

an D

olla

rs)

Oth

er E

qu

ity

Unre

aliz

ed

Reva

luatio

n

Incr

em

ents

(N

ote

s 2, 13

,15 a

nd 2

6)

Cum

ula

tive

Tra

nsl

atio

n

Adju

stm

ents

(Note

2)

Unre

aliz

ed

Gain

(L

oss

) on

Fin

anci

al

Inst

rum

ents

(Note

2)

Tre

asu

ry

Sto

ck(N

ote

s 2

and 2

6)

To

tal

Sto

ckhold

ers

’E

quity

Issu

ed a

nd

Ou

tsta

nd

ing

C

apit

al S

tock

(N

ote

26)

Capita

l S

urp

lus

(Note

s 2

and 2

6)

Ret

ain

ed E

arn

ing

s

(No

tes

2 a

nd

26)

Share

s (in

Thousa

nds)

Com

mon

Sto

ckLegal

Rese

rve

Unappro

priate

d

Earn

ings

BA

LA

NC

E,

JAN

UA

RY

1,

20

07

4,5

00,0

00

$ 45,0

00,0

00

$ 34,9

07,9

44

$

3,3

19,1

87

$

9,4

01,1

93

$ 4,0

24,1

55

$

177,1

76

$

902,5

95

$

-$

97,7

32,2

50

Ap

pro

pri

atio

n o

f th

e 2

00

6 e

arn

ing

s

Le

ga

l re

serv

e-

--

2,7

52,5

63

( 2,7

52,5

63)

--

--

-

Ca

sh d

ivid

en

ds

--

--

( 3,1

50,0

00)

--

--

( 3,1

50,0

00)

Re

mu

ne

ratio

n t

o d

ire

cto

rs a

nd

sup

erv

iso

rs-

--

-(

64,2

26)

--

--

( 64,2

26)

Bo

nu

s to

em

plo

yee

s -

-

-

-

( 513,8

12)

-

-

-

-

( 513,8

12)

Ba

lan

ce a

fte

r a

pp

rop

ria

tion

4,5

00,0

00

45,0

00,0

00

34,9

07,9

44

6,0

71,7

50

2,9

20,5

92

4,0

24,1

55

177,1

76

902,5

95

-94,0

04,2

12

Ca

pita

l su

rplu

s tr

an

sfe

rre

d t

o

cap

ital s

tock

in A

ug

ust

20

07

270,0

00

2,7

00,0

00

( 2,7

00,0

00)

--

--

--

-

Ne

t in

com

e in

20

07

--

--

9,7

40,3

73

--

--

9,7

40,3

73

Ch

an

ge

in u

nre

aliz

ed

re

valu

atio

n

incr

em

en

ts-

--

--

395,4

25

--

-395,4

25

Ch

an

ge

in c

um

ula

tive

tra

nsl

atio

n

ad

just

me

nts

--

--

--

97,3

92

--

97,3

92

Ch

an

ge

in u

nre

aliz

ed

loss

on

fina

nci

al i

nst

rum

en

ts -

-

-

-

-

-

-

( 1,7

98,6

76)

-

( 1,7

98,6

76)

BA

LA

NC

E,

DE

CE

MB

ER

31

, 2

00

74,7

70,0

00

47,7

00,0

00

32,2

07,9

44

6,0

71,7

50

12,6

60,9

65

4,4

19,5

80

274,5

68

( 896,0

81)

-102,4

38,7

26

Ap

pro

pri

atio

n o

f th

e 2

00

7 e

arn

ing

s

Le

ga

l re

serv

e-

--

2,9

22,1

12

( 2,9

22,1

12)

--

--

-

Ca

sh d

ivid

en

ds

--

--

( 1,9

08,0

00)

--

--

( 1,9

08,0

00)

Sto

ck d

ivid

en

ds

715,5

00

7,1

55,0

00

--

( 7,1

55,0

00)

--

--

-

Re

mu

ne

ratio

n t

o d

ire

cto

rs a

nd

sup

erv

iso

rs-

--

-(

68,1

82)

--

--

( 68,1

82)

Bo

nu

s to

em

plo

yee

s -

-

-

-

( 545,4

61)

-

-

-

-

( 545,4

61)

Ba

lan

ce a

fte

r a

pp

rop

ria

tion

5,4

85,5

00

54,8

55,0

00

32,2

07,9

44

8,9

93,8

62

62,2

10

4,4

19,5

80

274,5

68

( 896,0

81)

-99,9

17,0

83

Ne

t in

com

e in

20

08

--

--

7,5

30,7

78

--

--

7,5

30,7

78

Ch

an

ge

in u

nre

aliz

ed

re

valu

atio

n

incr

em

en

ts-

--

--

859

--

-859

Ch

an

ge

in c

um

ula

tive

tra

nsl

atio

n

ad

just

me

nts

--

--

--

(1

11,5

88)

--

( 11

1,5

88)

Ch

an

ge

in u

nre

aliz

ed

ga

in o

n

fina

nci

al i

nst

rum

en

ts-

--

--

--

1,7

63,2

14

-1,7

63,2

14

Acq

uis

itio

n o

f tr

ea

sury

sto

ck -

1

00

,00

0 t

ho

usa

nd

sh

are

s -

-

-

-

-

-

-

-

( 1,8

98,1

54)

( 1,8

98,1

54)

BA

LA

NC

E,

DE

CE

MB

ER

31

, 2

00

85,4

85,5

00

$ 54,8

55,0

00

$

32,2

07,9

44

$

8,9

93,8

62

$

7,5

92,9

88

$

4,4

20,4

39

$

162,9

80

$

867,1

33

($ 1

,898,1

54)

$107,2

02,1

92

TAIWANCOOPERATIVE


TAIWANCOOPERATIVE


035

Fin

an

cial S

tatem

ents

2008 2007

CASH FLOWS FROM OPERATING ACTIVITIES

Net income $ 7,530,778 $ 9,740,373

Loss (gain) on valuation of financial instruments ( 824,507) 339,077

Gain on the sale of available-for-sale financial assets ( 156,358) ( 578,873)

Loss (income) from equity investments under the equity method, net of cash dividends received

136,363 ( 199,182)

Impairment loss on assets 686,006 439,680

Depreciation and amortization 1,105,344 1,103,517

Gain on disposal of properties, nonoperating assets and collaterals assumed, net

( 382,485) ( 1,190,465)

Allowance for bad-debt expenses 6,248,668 4,678,962

Other provisions 27,274 9,059

Amortization of premium or discount on bonds 645,401 735,296

Provision for pension costs 118,507 351,910

Deferred income tax 1,021,161 1,333,830

Loss on the sale of held-to-maturity financial assets 140,354 -

Gain on the sale of financial assets carried at cost ( 173,599) ( 273,380)

Others 29,668 ( 15,526)

Net changes in operating assets and liabilities

Held-for-trading financial assets 10,809,207 7,444,082

Receivables 1,036,064 241,617

Other assets ( 183,491) 11,381

Held-for-trading financial liabilities ( 930,668) ( 2,492,428)

Payables 6,812,759 ( 9,164,188)

Other liabilities ( 279,268) ( 143,196)

Net cash provided by operating activities 33,417,178 12,371,546

CASH FLOWS FROM INVESTING ACTIVITIES

Decrease (increase) in due from the Central Bank and call loans to other banks

40,596,679 ( 43,086,326)

Acquisition of financial assets designated at fair value through profit or loss ( 182,581) ( 1,470,751)

Proceeds of the sale of financial assets designated at fair value through profit or loss

2,148,775 1,148,257

Increase in discounts and loans ( 111,839,726) ( 30,562,426)

Acquisition of available-for-sale financial assets ( 79,841,482) ( 75,893,498)

Proceeds of the sale of available-for-sale financial assets 77,612,595 75,722,340

Acquisition of held-to-maturity financial assets ( 6,051,969) ( 4,365,905)

Proceeds of the sale of and return of principal on held-to-maturity financial assets

5,526,187 -

Acquisition of debt instruments with no active market ( 19,043,506) ( 15,184,077)

Proceeds of the sale of and return of principal on debt instruments with no active market

9,148,657 8,361,762

Proceeds of the sale of financial assets carried at cost 385,684 336,484

Increase in other financial assets ( 365,033) ( 439,175)

(Continued)

TAIWAN COOPERATIVE BANK, LTD. STATEMENTS OF CASH FLOWS


(In Thousands of New Taiwan Dollars)

Oth

er E

qu

ity

Unre

aliz

ed

Reva

luatio

n

Incr

em

ents

(N

ote

s 2, 13

,15 a

nd 2

6)

Cum

ula

tive

Tra

nsl

atio

n

Adju

stm

ents

(Note

2)

Unre

aliz

ed

Gain

(L

oss

) on

Fin

anci

al

Inst

rum

ents

(Note

2)

Tre

asu

ry

Sto

ck(N

ote

s 2

and 2

6)

To

tal

Sto

ckhold

ers

’E

quity

Issu

ed a

nd

Ou

tsta

nd

ing

C

apit

al S

tock

(N

ote

26)

Capita

l S

urp

lus

(Note

s 2

and 2

6)

Ret

ain

ed E

arn

ing

s

(No

tes

2 a

nd

26)

Share

s (in

Thousa

nds)

Com

mon

Sto

ckLegal

Rese

rve

Unappro

priate

d

Earn

ings

BA

LA

NC

E,

JAN

UA

RY

1,

20

07

4,5

00,0

00

$ 45,0

00,0

00

$ 34,9

07,9

44

$

3,3

19,1

87

$

9,4

01,1

93

$ 4,0

24,1

55

$

177,1

76

$

902,5

95

$

-$

97,7

32,2

50

Ap

pro

pri

atio

n o

f th

e 2

00

6 e

arn

ing

s

Le

ga

l re

serv

e-

--

2,7

52,5

63

( 2,7

52,5

63)

--

--

-

Ca

sh d

ivid

en

ds

--

--

( 3,1

50,0

00)

--

--

( 3,1

50,0

00)

Re

mu

ne

ratio

n t

o d

ire

cto

rs a

nd

sup

erv

iso

rs-

--

-(

64,2

26)

--

--

( 64,2

26)

Bo

nu

s to

em

plo

yee

s -

-

-

-

( 513,8

12)

-

-

-

-

( 513,8

12)

Ba

lan

ce a

fte

r a

pp

rop

ria

tion

4,5

00,0

00

45,0

00,0

00

34,9

07,9

44

6,0

71,7

50

2,9

20,5

92

4,0

24,1

55

177,1

76

902,5

95

-94,0

04,2

12

Ca

pita

l su

rplu

s tr

an

sfe

rre

d t

o

cap

ital s

tock

in A

ug

ust

20

07

270,0

00

2,7

00,0

00

( 2,7

00,0

00)

--

--

--

-

Ne

t in

com

e in

20

07

--

--

9,7

40,3

73

--

--

9,7

40,3

73

Ch

an

ge

in u

nre

aliz

ed

re

valu

atio

n

incr

em

en

ts-

--

--

395,4

25

--

-395,4

25

Ch

an

ge

in c

um

ula

tive

tra

nsl

atio

n

ad

just

me

nts

--

--

--

97,3

92

--

97,3

92

Ch

an

ge

in u

nre

aliz

ed

loss

on

fina

nci

al i

nst

rum

en

ts -

-

-

-

-

-

-

( 1,7

98,6

76)

-

( 1,7

98,6

76)

BA

LA

NC

E,

DE

CE

MB

ER

31

, 2

00

74,7

70,0

00

47,7

00,0

00

32,2

07,9

44

6,0

71,7

50

12,6

60,9

65

4,4

19,5

80

274,5

68

( 896,0

81)

-102,4

38,7

26

Ap

pro

pri

atio

n o

f th

e 2

00

7 e

arn

ing

s

Le

ga

l re

serv

e-

--

2,9

22,1

12

( 2,9

22,1

12)

--

--

-

Ca

sh d

ivid

en

ds

--

--

( 1,9

08,0

00)

--

--

( 1,9

08,0

00)

Sto

ck d

ivid

en

ds

715,5

00

7,1

55,0

00

--

( 7,1

55,0

00)

--

--

-

Re

mu

ne

ratio

n t

o d

ire

cto

rs a

nd

sup

erv

iso

rs-

--

-(

68,1

82)

--

--

( 68,1

82)

Bo

nu

s to

em

plo

yee

s -

-

-

-

( 545,4

61)

-

-

-

-

( 545,4

61)

Ba

lan

ce a

fte

r a

pp

rop

ria

tion

5,4

85,5

00

54,8

55,0

00

32,2

07,9

44

8,9

93,8

62

62,2

10

4,4

19,5

80

274,5

68

( 896,0

81)

-99,9

17,0

83

Ne

t in

com

e in

20

08

--

--

7,5

30,7

78

--

--

7,5

30,7

78

Ch

an

ge

in u

nre

aliz

ed

re

valu

atio

n

incr

em

en

ts-

--

--

859

--

-859

Ch

an

ge

in c

um

ula

tive

tra

nsl

atio

n

ad

just

me

nts

--

--

--

(1

11,5

88)

--

( 11

1,5

88)

Ch

an

ge

in u

nre

aliz

ed

ga

in o

n

fina

nci

al i

nst

rum

en

ts-

--

--

--

1,7

63,2

14

-1,7

63,2

14

Acq

uis

itio

n o

f tr

ea

sury

sto

ck -

1

00

,00

0 t

ho

usa

nd

sh

are

s -

-

-

-

-

-

-

-

( 1,8

98,1

54)

( 1,8

98,1

54)

BA

LA

NC

E,

DE

CE

MB

ER

31

, 2

00

85,4

85,5

00

$ 54,8

55,0

00

$

32,2

07,9

44

$

8,9

93,8

62

$

7,5

92,9

88

$

4,4

20,4

39

$

162,9

80

$

867,1

33

($ 1

,898,1

54)

$107,2

02,1

92

TAIWANCOOPERATIVE


036

AN

NU

AL

RE

PO

RT

2008

TAIWANCOOPERATIVE


2008 2007

Acquisition of properties, intangible assets and nonoperating assets $ ( 1,518,547) $ ( 1,339,393)

Proceeds of the sale of properties, nonoperating assets and collaterals assumed 952,515 1,984,626

Decrease (increase) in other assets ( 157,590) 58,946

Proceeds of the sale of nonperforming loans 9,364,024 8,645,318

Net cash used in investing activities ( 73,265,318) ( 76,083,818)

CASH FLOWS FROM FINANCING ACTIVITIES

Decrease in due to the Central Bank and other banks ( 52,159,526) ( 13,307,939)

Increase (decrease) in securities sold under repurchase agreements 12,714,692 ( 13,910,411)

Increase in deposits and remittances 98,233,101 61,874,798

Repayment of bank debentures ( 16,540,000) -

Issuance of bank debentures 10,000,000 20,170,000

Bonus to employees and remuneration to directors and supervisors ( 613,643) ( 576,979)

Decrease in other financial liabilities ( 54,499) ( 333,545)

Cash dividends ( 1,903,204) ( 3,135,216)

Acquisition of treasury stock ( 1,898,154) -

Decrease in other liabilities ( 41,992) ( 4,335)

Net cash provided by financing activities 47,736,775 50,776,373

EFFECTS OF EXCHANGE RATE CHANGES 203,383 ( 564,228)

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 8,092,018 ( 13,500,127)

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 32,500,510 46,000,637

CASH AND CASH EQUIVALENTS, END OF YEAR $ 40,592,528 $ 32,500,510

SUPPLEMENTAL CASH FLOW INFORMATION

Interest paid $ 44,750,799 $ 40,898,578

Income tax paid $ 1,354,397 $ 725,022

PART-CASH INVESTING ACTIVITIES

Sale of nonperforming loans - current year $ 3,103,990 $ 10,929,032

Receivables from the sale of nonperforming loans ( 2,483,192) ( 8,743,226)

Proceeds of the sale of nonperforming loans - previous year 8,743,226 6,459,512

Proceeds of the sale of nonperforming loans $ 9,364,024 $ 8,645,318

NON-CASH INVESTING ACTIVITIES

Acquisition of Taiwan Cooperative Bills Finance Corporation by using the Bank's creditor's rights converted to stockholder's rights, (Note 11), resulting in a decrease in receivables and an increase in equity-method investments

$ - $ 529,516

TAIWAN COOPERATIVE BANK, LTD. STATEMENTS OF CASH FLOWS



(Concluded)

Notice to Readers

The notes to financial statements are published separately. If you have a need of it, please contact the Department of International Banking (Tel: +886-2-27400628#331) or Secretariat (Tel: +886-2-23118811#633).

TAIWANCOOPERATIVE


TAIWANCOOPERATIVE


037

Fin

an

cial S

tatem

ents

TAIWANCOOPERATIVE


038

AN

NU

AL

RE

PO

RT

2008

TAIWANCOOPERATIVE


INDEPENDENT AUDITORS’ REPORT

The Board of Directors and the Stockholders

Taiwan Cooperative Bank, Ltd.

We have audited the accompanying consolidated balance sheets of Taiwan Cooperative Bank, Ltd. and subsidiaries (collectively, the “Company”) as of December 31, 2008 and 2007, and the related consolidated statements of income, changes in stockholders’ equity and cash flows for the years then ended. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.

We conducted our audits in accordance with the Rules Governing the Audit of Financial Statements of Financial Institutions by Certified Public Accountants, the Rules Governing the Audit of Financial Statements by Certified Public Accountants and auditing standards generally accepted in the Republic of China. Those rules and standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall consolidated financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, based on our audits, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Taiwan Cooperative Bank, Ltd. and subsidiaries as of December 31, 2008 and 2007, and the results of their operations and their cash flows for the years then ended, in conformity with the Guidelines Governing the Preparation of Financial Reports by Public Banks, Guidelines Governing the Preparation of Financial Reports by Futures Commission Merchants, and accounting principles generally accepted in the Republic of China.

As stated in Note 3 to the consolidated financial statements, under an explanation issued by the Accounting Research and Development Foundation of the Republic of China, Taiwan Cooperative Bank, Ltd. and subsidiaries should recognize bonus to employees and remuneration to directors and supervisors as compensation expenses effective January 1, 2008. These bonus and remuneration were previously recorded as appropriations from earnings.

Consolidated Financial Statements

TAIWANCOOPERATIVE


TAIWANCOOPERATIVE


039

Co

nso

lidated

Fin

an

cial S

tatem

ents

As stated in Notes 3 and 33 to the consolidated financial statements, Taiwan Cooperative Bank, Ltd. and subsidiaries reclassified their financial assets in accordance with the newly amended Statement of Financial Accounting Standards No. 34 - “Financial Instruments: Recognition and Measurement.”

March 2, 2009

Notice to Readers

The accompanying consolidated financial statements are intended only to present the consolidated financial position, results of operations and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such consolidated financial statements are those generally accepted and applied in the Republic of China.

For the convenience of readers, the auditors’ report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language auditors’ report and consolidated financial statements shall prevail.

TAIWANCOOPERATIVE


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040

2008 2007Percentage

Increase (Decrease)

ASSETS Amount Amount %

CASH AND CASH EQUIVALENTS $ 40,844,312 $ 32,749,198 25

DUE FROM THE CENTRAL BANK AND CALL LOANS TO OTHER BANKS 375,585,172 415,729,784 ( 10)

FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS 36,440,703 44,087,992 ( 17)

RECEIVABLES, NET 32,594,209 34,038,407 ( 4)

DISCOUNTS AND LOANS, NET 1,838,147,297 1,734,893,395 6

AVAILABLE-FOR-SALE FINANCIAL ASSETS 68,483,509 60,424,888 13

HELD-TO-MATURITY FINANCIAL ASSETS 8,271,079 7,627,062 8

EQUITY INVESTMENTS UNDER THE EQUITY METHOD 76,596 69,306 11

OTHER FINANCIAL ASSETS, NET 62,253,128 55,010,237 13

PROPERTIES

Land (including revaluation increments) 22,486,712 22,216,108 1

Buildings 13,103,374 13,021,714 1

Machinery and equipment 5,224,189 4,792,128 9

Transportation equipment 693,981 696,506 -

Other equipment 1,315,991 1,308,170 1

Leasehold improvements 648,062 565,913 15

43,472,309 42,600,539 2

Less: Accumulated depreciation 9,461,828 8,743,832 8

Less: Accumulated impairment 1,114 86,215 ( 99)

34,009,367 33,770,492 1

Construction in progress 24,476 42,545 ( 42)

Prepayment for land and buildings - 54,664 ( 100)

Prepayment for equipment 22,018 17,660 25

Properties, net 34,055,861 33,885,361 1

INTANGIBLE ASSETS 3,626,396 3,436,827 6

OTHER ASSETS, NET

Nonoperating assets, net 4,076,970 4,188,372 ( 3)

Refundable deposits 1,008,849 1,108,225 ( 9)

Collaterals assumed, net 857,341 985,946 ( 13)

Operating deposits and settlement funds 252,343 247,524 2

Deferred income tax assets, net - 724,141 ( 100)

Others 441,098 276,081 60

Other assets, net 6,636,601 7,530,289 ( 12)

TOTAL $ 2,507,014,863 $ 2,429,482,746 3

TAIWAN COOPERATIVE BANK, LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2008 AND 2007

(In Thousands of New Taiwan Dollars, Except Par Value)

TAIWANCOOPERATIVE


TAIWANCOOPERATIVE


041

Co

nso

lidated

Fin

an

cial S

tatem

ents

2008 2007Percentage

Increase (Decrease)

LIABILITIES AND STOCKHOLDERS’ EQUITY Amount Amount %

DUE TO THE CENTRAL BANK AND OTHER BANKS $ 204,503,066 $ 257,709,013 ( 21)

COMMERCIAL PAPER ISSUED, NET 1,559,382 399,574 290

FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS

4,525,836 2,650,154 71

SECURITIES SOLD UNDER REPURCHASE AGREEMENTS 63,308,291 43,251,070 46

PAYABLES 46,130,268 39,256,283 18

DEPOSITS AND REMITTANCES 1,983,233,481 1,884,858,034 5

BANK DEBENTURES 77,771,000 84,321,000 ( 8)

ACCRUED PENSION COST 1,763,570 1,645,063 7

OTHER FINANCIAL LIABILITIES 11,759,532 7,059,998 67

OTHER LIABILITIES 4,256,881 4,777,721 ( 11)

Total liabilities 2,398,811,307 2,325,927,910 3

STOCKHOLDERS' EQUITY OF PARENT COMPANY

Capital stock

Common stock - NT$10.00 par value; authorized 6,000,000

thousand shares; issued and outstanding 5,485,500 thousand

shares in 2008 and 4,770,000 thousand shares in 2007 54,855,000 47,700,000 15

Capital surplus - additional paid-in capital from share

issuance in excess of par value 32,207,944 32,207,944 -

Retained earnings

Legal reserve 8,993,862 6,071,750 48

Unappropriated earnings 7,592,988 12,660,965 ( 40)

Total retained earnings 16,586,850 18,732,715 ( 11)

Other equity

Unrealized revaluation increments 4,420,439 4,419,580 -

Cumulative translation adjustments 162,980 274,568 ( 41)

Unrealized gain (loss) on financial instruments 867,133 ( 896,081) 197

Treasury stock - 100,000 thousand shares ( 1,898,154) - -

Total other equity 3,552,398 3,798,067 ( 6)

Total stockholders' equity of parent company 107,202,192 102,438,726 5

MINORITY INTEREST 1,001,364 1,116,110 ( 10)

Total stockholders' equity 108,203,556 103,554,836 4

CONTINGENCIES AND COMMITMENTS

TOTAL $ 2,507,014,863 $ 2,429,482,746 3

TAIWANCOOPERATIVE


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TAIWAN COOPERATIVE BANK, LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME



2008 2007Percentage

Increase (Decrease)

Amount Amount %

INTEREST REVENUE $ 72,050,647 $ 66,661,164 8

INTEREST EXPENSE ( 44,765,178) ( 42,202,081) 6

NET INTEREST 27,285,469 24,459,083 12

NET REVENUE AND GAIN (LOSS) OTHER THAN INTEREST

Service fee income, net 3,645,096 3,421,314 7

Loss on financial assets and liabilities at fair value through profit or loss ( 4,589,553) ( 134,190) 3,320

Realized gain on available-for-sale financial assets 175,732 668,196 ( 74)

Realized loss on held-to-maturity financial assets ( 140,354) - -

Income from equity investments under the equity method 10,115 7,536 34

Foreign exchange gain, net 5,325,375 578,717 820

Impairment loss on assets ( 984,134) ( 439,680) 124

Gains on financial assets carried at cost 412,543 617,887 ( 33)

Gains on disposal of properties and nonoperating assets 298,495 1,120,188 ( 73)

Recovery of bad debts written off and overdue accounts 2,537,842 3,599,636 ( 29)

Other noninterest gain, net 900,777 1,079,642 ( 17)

Total net revenue and gain (loss) other than interest 7,591,934 10,519,246 ( 28)

TOTAL NET REVENUE 34,877,403 34,978,329 -

ALLOWANCE FOR BAD-DEBT EXPENSES ( 6,572,902) ( 4,785,674) 37

OPERATING EXPENSES

Personnel ( 12,515,542) ( 11,947,807) 5

Depreciation and amortization ( 1,111,587) ( 1,107,345) -

General and administrative ( 5,177,999) ( 5,063,643) 2

Total operating expenses ( 18,805,128) ( 18,118,795) 4

(Continued)

TAIWANCOOPERATIVE


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043

Co

nso

lidated

Fin

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2008 2007Percentage

Increase (Decrease)

Amount Amount %

CONSOLIDATED INCOME BEFORE INCOME TAX $ 9,499,373 $ 12,073,860 ( 21)

INCOME TAX EXPENSE ( 2,097,858) ( 2,298,953) ( 9)

CONSOLIDATED NET INCOME $ 7,401,515 $ 9,774,907 ( 24)

ATTRIBUTABLE TO:

Parent company $ 7,530,778 $ 9,740,373 ( 23)

Minority interest ( 129,263) 34,534 ( 474)

$ 7,401,515 $ 9,774,907 ( 24)

2008 2007

Before Income

After Income

Before Income

After Income

Tax Tax Tax Tax

EARNINGS PER SHARE

Basic earnings per share $ 1.74 $ 1.38 $ 2.18 $ 1.78

Diluted earnings per share $ 1.73 $ 1.37 $ 2.18 $ 1.78

(Concluded)

TAIWAN COOPERATIVE BANK, LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME



TAIWANCOOPERATIVE


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TAIWANCOOPERATIVE


TAIWANCOOPERATIVE


045

Co

nso

lidated

Fin

an

cial S

tatem

ents

2008 2007

CASH FLOWS FROM OPERATING ACTIVITIES

Consolidated net income $ 7,401,515 $ 9,774,907

Loss (gain) on valuation of financial instruments ( 825,229) 339,141

Gain on the sale of available-for-sale financial assets ( 175,732) ( 579,205)

Income from equity investments under the equity method, net of cash dividends received

( 7,190) ( 4,610)

Impairment loss on assets 984,134 439,680

Depreciation and amortization 1,111,587 1,107,345

Gain on disposal of properties, nonoperating assets and collaterals assumed, net

( 382,485) ( 1,202,100)

Allowance for bad-debt expenses 6,572,902 4,785,674

Other provisions 29,517 19,450

Recovery of credits written off 2,843 1,489

Amortization of premium or discount on bonds 656,062 734,371

Provision for pension costs 118,507 351,910

Deferred income tax 1,003,094 1,304,317

Loss on the sale of held-to-maturity financial assets 140,354 -

Gain on the sale of financial assets carried at cost ( 173,599) ( 273,380)

Loss (gain) on the sale of debt instruments with no active market 319,313 ( 15,526)

Others ( 61,010) -

Net changes in operating assets and liabilities

Held-for-trading financial assets 7,971,241 7,449,513

Receivables 3,170,650 1,061,934

Other assets ( 163,303) 6,394

Held-for-trading financial liabilities ( 930,668) ( 2,492,428)

Payables 6,859,189 ( 9,077,651)

Other liabilities ( 282,828) ( 142,077)

Net cash provided by operating activities 33,338,864 13,589,148

CASH FLOWS FROM INVESTING ACTIVITIES

Decrease (increase) in due from the Central Bank and call loans to other banks 40,144,612 ( 42,520,329)

Acquisition of financial assets designated at fair value through profit or loss ( 182,581) ( 1,470,751)

Proceeds of the sale of financial assets designated at fair value through profit or loss

2,148,775 1,148,257

Increase in discounts and loans ( 112,359,730) ( 31,266,412)

Acquisition of available-for-sale financial assets ( 117,249,614) ( 75,893,830)

Proceeds of the sale of available-for-sale financial assets 111,566,902 75,722,679

Acquisition of held-to-maturity financial assets ( 6,051,969) ( 4,365,905)

Proceeds of the sale of and return of principal on held-to-maturity financial assets

5,526,187 -

Acquisition of debt instruments with no active market ( 19,043,506) ( 16,774,512)

(Continued)

TAIWAN COOPERATIVE BANK, LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS



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2008 2007

Proceeds of the sale of and return of principal on debt instruments with no active market

$ 10,136,135 $ 9,689,140

Proceeds of the sale of financial assets carried at cost 385,684 336,484

Increase in other financial assets ( 365,033) ( 439,175)

Acquisition of properties, intangible assets and nonoperating assets ( 1,546,225) ( 1,343,285)

Proceeds of the sale of properties, nonoperating assets and collaterals assumed

952,615 2,159,626

Decrease (increase) in other assets ( 165,963) 62,525

Proceeds of the sale of nonperforming loans 620,798 6,459,512

Cash and cash equivalents arising from the acquisition of Taiwan Cooperative Bills Finance Corporation - December 4, 2007

- 169,141

Net cash used in investing activities ( 85,482,913) ( 78,326,835)

CASH FLOWS FROM FINANCING ACTIVITIES

Decrease in due to the Central Bank and other banks ( 53,205,947) ( 12,933,265)

Increase (decrease) in commercial paper issued 1,159,808 ( 618,978)

Increase (decrease) in securities sold under repurchase agreements 20,057,221 ( 13,900,407)

Increase in deposits and remittances 98,375,447 61,788,585

Repayment of bank debentures ( 16,540,000) -

Issuance of bank debentures 10,000,000 20,170,000

Increase in other financial liabilities 4,699,534 1,166,413

Decrease in other liabilities ( 39,611) ( 17,911)

Bonus to employees and remuneration to directors and supervisors ( 613,643) ( 576,979)

Cash dividends ( 1,903,204) ( 3,135,216)

Acquisition of treasury stock ( 1,898,154) -

Net cash provided by financing activities 60,091,451 51,942,242

EFFECTS OF EXCHANGE RATE CHANGES 147,712 ( 677,804)

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 8,095,114 ( 13,473,249)

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 32,749,198 46,222,447

CASH AND CASH EQUIVALENTS, END OF YEAR $ 40,844,312 $ 32,749,198

SUPPLEMENTAL CASH FLOW INFORMATION

Interest paid $ 45,089,096 $ 41,047,244

Income tax paid $ 1,469,275 $ 806,375




(Continued)

TAIWANCOOPERATIVE


TAIWANCOOPERATIVE


047

Co

nso

lidated

Fin

an

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tatem

ents

2008 2007

PART-CASH INVESTING ACTIVITIES

Sale of nonperforming loans - current year $ 3,103,990 $ -

Receivables from the sale of nonperforming loans ( 2,483,192) -

Proceeds of the sale of nonperforming loans - previous year - 6,459,512

Proceeds of the sale of nonperforming loans $ 620,798 $ 6,459,512




(Concluded)

TAIWANCOOPERATIVE


048

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TAIWANCOOPERATIVE


INTERNATIONAL BANKING DEPARTMENT 3rd Fl., No. 325, Jhongsiao E. Rd., Sec. 4, Taipei City, TaiwanTEL:+886-2-27400628 FAX:+886-2-27512962Telex:17176 TACBID ; SWIFT:TACBTWTP

KAOHSIUNG BRANCHNo. 99, Dayong Rd., Kaohsiung City, TaiwanTEL:+886-7-5514221 FAX:+886-7-5321389SWIFT:TACBTWTP034

TAICHUNG BRANCHNo. 2, Zihyou Rd., Sec 2,Taichung City, TaiwanTEL:+886-4-22245121 FAX:+886-4-22220112SWIFT:TACBTWTP022

JHONGSHAN LU BRANCHNo. 71, Jhongshan N. Rd., Sec. 2, Taipei City, TaiwanTEL:+886-2-25213211 FAX:+886-2-25232802SWIFT:TACBTWTP002

BUSINESS DEPARTMENT 3rd Fl., No. 77, Kuanchien Rd., Taipei City, TaiwanTEL:+886-2-23118811 FAX:+886-2-23885075SWIFT:TACBTWTP056

CHENGDONG BRANCHNo. 87, Songjiang Rd., Taipei City, TaiwanTEL:+886-2-25070111 FAX:+886-2-25084784SWIFT:TACBTWTP060

NANJING DONGLU BRANCHNo. 98, Nanjing E. Rd., Sec. 1, Taipei City, TaiwanTEL:+886-2-25623150 FAX:+886-2-25819592SWIFT:TACBTWTP041

FUSING BRANCHNo. 237, Fusing S. Rd., Sec. 1, Taipei City, TaiwanTEL:+886-2-27541111 FAX:+886-2-27541118SWIFT:TACBTWTP091

MINSHENG BRANCHNo. 126, Minsheng E. Rd, Sec. 3, Taipei City, TaiwanTEL:+886-2-27181339 FAX:+886-2-27163180SWIFT:TACBTWTP093

TAINAN BRANCHNo. 48, Chenggong Rd., Tainan City, TaiwanTEL:+886-6-2232101 FAX:+886-6-2218356SWIFT:TACBTWTP030

JHONGSIAO BRANCHNo. 285, Jhongsiao E. Rd., Sec. 4, Taipei City, TaiwanTEL:+886-2-27718811 FAX:+886-2-27311982SWIFT:TACBTWTP045

WUJHOU BRANCHNo. 237, Songjiang Rd., Taipei City, TaiwanTEL:+886-2-25077664 FAX:+886-2-25163888SWIFT:TACBTWTPAAA

DA-AN BRANCHNo. 1, Lane 81, Dunhua S. Rd., Sec. 2, Taipei City, TaiwanTEL:+886-2-27553482 FAX:+886-2-27056016SWIFT:TACBTWTP076

SINYI BRANCHNo. 172, Sinyi Rd., Sec. 4, Taipei City, TaiwanTEL:+886-2-27067188 FAX:+886-2-27554862SWIFT:TACBTWTP083

YANPING BRANCHNo. 301, Nanjing W. Rd., Taipei City, TaiwanTEL:+886-2-25554111 FAX:+886-2-25567742SWIFT:TACBTWTP004

JHONGHE BRANCHNo. 9, Taihe St., Jhonghe City, Taipei County, TaiwanTEL:+886-2-22499500 FAX:+886-2-22462494SWIFT:TACBTWTP062

Designated Foreign Exchange Banks

TAIWANCOOPERATIVE


TAIWANCOOPERATIVE


049

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DONG SINJHUANG BRANCHNo.339, Sihyuan Road, Sinjhuang City, Taipei County, Taiwan TEL:+886-2-29973456 FAX: +886-2-29965856SWIFT:TACBTWTP098

NEIHU BRANCH1F., No 502, Rueiguang Rd., Neihu District, Taipei City, Taiwan TEL:+886-2-26590001 FAX:+886-2-26590106SWIFT:TACBTWTP156

CIANJHEN BRANCHNo. 56, Caoya 1st Rd., Cianjhen District, Kaohsiung City, TaiwanTEL:+886-7-8416491 FAX:+886-7-8414953SWIFT:TACBTWTPAAB

KAOHSIUNG SCIENCE-BASED PARK BRANCH1F, NO.92, Luke 5th Rd., Lujhu Township, Kaohsiung County, Taiwan TEL:+886-7-6955151 FAX:+886-7-6955255SWIFT:TACBTWTP318

SHUANGHE BRANCHNo. 196, Jian 1st Rd., Jhonghe City, Taipei County, TaiwanTEL:+886-2-82271627 FAX:+886-2-82271617SWIFT:TACBTWTP144

ZIHCIANG BRANCH1~3F, No.85, Sec. 2, Nanjing E. Rd., Taipei City, TaiwanTEL:+886-2-21003100 FAX:+886-2-25314470SWIFT:TACBTWTP501

GANGDU BRANCHNo.230, Jhongjheng 4th Rd., Cianjin District, Kaohsiung City, Taiwan TEL:+886-7-2914131 FAX:+886-7-2517850SWIFT:TACBTWTP524

CHANGHUA BRANCHNo. 279, Minsheng Rd., Changhua City, Changhua County, TaiwanTEL:+886-4-7225151 FAX:+886-4-7252183SWIFT:TACBTWTP023

SONGJIANG BRANCHNo. 152, Songjiang Rd., Taipei City, TaiwanTEL:+886-2-25224567 FAX:+886-2-25314172SWIFT:TACBTWTP095

CHIAYI BRANCHNo. 279, Guohua St., Chiayi City, TaiwanTEL:+886-5-2224571 FAX:+886-5-2245297SWIFT:TACBTWTP028

TAIPEI BRANCHNo. 55, Fusing N. Rd., Taipei City, TaiwanTEL:+886-2-27724277 FAX:+886-2-27518019SWIFT:TACBTWTP054

HSINCHU BRANCHNo. 23, Jhongjheng Rd., Hsinchu City, TaiwanTEL:+886-3-5244151 FAX:+886-3-5225921SWIFT:TACBTWTP017

TAOYUAN BRANCHNo. 58, Jhongjheng Rd., Taoyuan City, TaiwanTEL:+886-3-3326121 FAX:+886-3-3338891SWIFT:TACBTWTP015

BANCIAO BRANCHNo. 20, Wunhua Rd., Sec. 1, Banciao City, Taipei County, TaiwanTEL:+886-2-29660971 FAX:+886-2-29660936SWIFT:TACBTWTP011

DALI BRANCHNo.384, Sec. 1,Chung Hsing Road, Dali City, Taichung County, Taiwan TEL:+886-4-24934111 FAX: +886-4-24934125SWIFT:TACBTWTP102

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SINJHONG BRANCHNo.91, Mincyuan Rd., West District, Taichung City, Taiwan TEL:+886-4-22237711 FAX:+886-4-22231448SWIFT:TACBTWTP516

DONG CHIAYI BRANCHNo.425, Mincyuan Rd., Chiayi City, Taiwan TEL:+886-5-2225281 FAX:+886-5-2231981SWIFT:TACBTWTP584

PINGJHONG BRANCH1~3F., No.287, Minsheng Rd., Pingtung City, Pingtung County, Taiwan TEL:+886-8-7326391 FAX:+886-8-7336594SWIFT:TACBTWTP579

YUANSIN BRANCHNo.733, Sec. 1 , Jhongshan Rd., Yuanlin Township, Changhua County, Taiwan TEL:+886-4-8322741 FAX:+886-4-8358196SWIFT:TACBTWTP560

CHIHKAN BRANCHNo.204, Chenggong Rd., North District, Tainan City, Taiwan TEL:+886-6-2201302 FAX:+886-6-2264704SWIFT:TACBTWTP521

DONG TAOYUAN BRANCHNo.12, Jhonghua Rd., Taoyuan City, Taoyuan County, Taiwan TEL:+886-3-3355009 FAX:+886-3-3365363SWIFT:TACBTWTP543

JHUCIAN BRANCHNo.60, Dongmen St., Hsinchu City, Taiwan TEL:+886-35-215120 FAX:+886-35-250270SWIFT:TACBTWTP563

BEI LUODONG BRANCHNo.54, Jhongjheng N. Rd., Luodong Township, Yilan County, Taiwan TEL:+886-39-545795 FAX:+886-39-576276SWIFT:TACBTWTP541

FONGJHONG BRANCHNo.351, Jhongjheng Rd., Fongyuan City, Taichung County, Taiwan TEL:+886-4-25280369 FAX:+886-4-25278825SWIFT:TACBTWTP554

BANSIN BRANCH1~2F, No.30, Sec. 1, Wunhua Rd., Banciao City, Taipei County, Taiwan TEL:+886-2-22726850 FAX:+886-2-29606365SWIFT:TACBTWTP531

DUNNAN BRANCHNo.362, Sec. 1, Dunhua S. Rd., Da-an District, Taipei City, Taiwan TEL:+886-2-27011117 FAX:+886-2-27075176SWIFT:TACBTWTP503

JHONGLUN BRANCHNo.45, Dongsing Rd., Sinyi District, Taipei City, Taiwan TEL:+886-2-87681717 FAX:+886-2-87682169SWIFT:TACBTWTP504

LISIN BRANCH1~3F, No.119, Jhongshan Rd., Jhongli City, Taoyuan County, Taiwan TEL:+886-3-4222131 FAX:+886-3-4253090SWIFT:TACBTWTP544

NAN SANCHONG BRANCHNo.120, Jhengyi N. Rd., Sanchong City, Taipei County, Taiwan TEL:+886-2-29817117 FAX:+886-2-29848861SWIFT:TACBTWTP532

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BEI SHIHLIN BRANCH1F, No.837~849, Sec. 5, Jhongshan N. Rd., Shihlin District, Taipei City, Taiwan TEL:+886-2-88665959 FAX:+886-2-88665353SWIFT:TACBTWTP508

SHIHCYUAN BRANCHNo.189, Bo-ai 1st Rd., Sanmin District, Kaohsiung City, Taiwan TEL:+886-7-3230611 FAX:+886-7-3230668SWIFT:TACBTWTP527

BAOCIAO BRANCH1F, No.2, Lane 235, Baociao Rd., Sindian City, Taipei County, Taiwan TEL:+886-2-29185506 FAX:+886-2-29185512SWIFT:TACBTWTP535

SINTAI BRANCHNo.115, Sintai Rd., Sinjhuang City, Taipei County, Taiwan TEL:+886-2-29986688 FAX:+886-2-29986633SWIFT:TACBTWTP536

SIHU BRANCH 1F, No.206~208, Rueiguang Rd., Neihu District, Taipei City, TaiwanTEL:+886-2-27971989 FAX:+886-2-26581027SWIFT:TACBTWTP510

NAN SIJHIH BRANCH1F, No.94-1, Sec. 1, Sintai 5th Rd., Sijhih City, Taipei County, Taiwan TEL:+886-2-26968888 FAX:+886-2-26962222SWIFT:TACBTWTP538

NANKAN BRANCHNo.11, Nanshang Rd., Lujhu Township, Taoyuan County, TaiwanTEL:+886-3-3221199 FAX:+886-3-3225477SWIFT:TACBTWTP545

CISIAN BRANCHNo.216, Cisian 1st Rd., Sinsing District, Kaohsiung City, TaiwanTEL:+886-7-2365503 FAX:+886-7-2361016SWIFT:TACBTWTP525

WORLD TRADE CENTER BRANCH2F, No.333, Sec. 1, Keelung Rd., Sinyi District, Taipei City, Taiwan TEL:+886-2-27291333 FAX:+886-2-27576171SWIFT:TACBTWTP505

RENDE BRANCHNo.4~8, Sec. 3, Jhongjiheng Rd., Rende Township, Tainan County, Taiwan TEL:+886-6-2794616 FAX:+886-6-2700594SWIFT:TACBTWTP570

YANJI BRANCH1~2F, No.376-1, Sec. 4, Ren-ai Rd., Da-an District, Taipei City, Taiwan TEL:+886-2-27069955 FAX:+886-2-27042086SWIFT:TACBTWTP506

HSINCHU SCIENCE-BASED INDUSTRIAL PARK BRANCH1~2F, No.1, Keji Rd., Hsinchu City, Taiwan TEL:+886-35-783962 FAX:+886-35-781859SWIFT:TACBTWTP564

JHONGGANG BRANCHNo.152, Sec. 3, Wunsin Rd., Situn District, Taichung City, Taiwan TEL:+886-4-23138811 FAX:+886-4-23136493SWIFT:TACBTWTP517

JHANGHE BRANCH1~2F, No.246-1, Liancheng Rd., Jhonghe City, Taipei County, Taiwan TEL:+886-2-22262829 FAX:+886-2-22256481SWIFT:TACBTWTP534

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WUCYUAN BRANCHNo.61, Sec. 2, Gongyi Rd., Taichung City, Taiwan TEL:+886-4-23229191 FAX:+886-4-23200601SWIFT:TACBTWTP069

NANTOU BRANCHNo.96, Jhongshan St., Nantou City, Nantou County, TaiwanTEL:+886-49-2234141 FAX:+886-49-2228485SWIFT:TACBTWTP025

TUCHENG BRANCHNo.96, Sec.2,Jhongyang Rd., Tucheng City, Taipei County, TaiwanTEL:+886-2-22651611 FAX:+886-2-22651667SWIFT:TACBTWTP145

GANGSHAN BRANCHNo.2, Siaocian Rd., Gangshan Township, Kaohsiung County, TaiwanTEL:+886-7-6216161 FAX:+886-7-6216195SWIFT:TACBTWTP033

FONGYUAN BRANCHNo.102, Jhongjheng Rd., Fongyuan City, Taichung County, TaiwanTEL:+886-4-25231122 FAX:+886-4-25272540SWIFT:TACBTWTP020

JHONGSHAN BRANCHNo.2, Sec. 2, Nanjing E. Rd., Jhongshan District, Taipei City, TaiwanTEL:+886-2-25214065 FAX:+886-2-25319567SWIFT: TACBTWTP502

DONG JHUBEI BRANCHNo.343, Jhongjheng, E. Rd., Jhubei City, Hsinchu County, TaiwanTEL:+886-3-5540108 FAX:+886-3-5540110SWIFT: TACBTWTP551

BEI HSINCHU BRANCH No.168, Beida Rd., Hsinchu City, TaiwanTEL:+886-3-5284001 FAX:+886-3-5247655SWIFT: TACBTWTP124

JHUBEI BRANCHNO.261, Guangming 6th Rd., Jhubei City, Hsinchu County, TaiwanTEL:+886-3-5546000 FAX:+886-3-5545614SWIFT:TACBTWTP131

NAN TAICHUNG BRANCHNo.789, Jhongming S. Rd., Taichung City, TaiwanTEL:+886-4-22617211 FAX:+886-4-22633964SWIFT:TACBTWTP107

JHONGSING BRANCHNo.5, Gongyuan Rd., Central District, Taichung City, TaiwanTEL:+886-4-22241161 FAX:+886-4-22257517SWIFT:TACBTWTP050

YUNLIN BRANCH No.223, Minsheng Rd., Douliou City, Yunlin County, TaiwanTEL:+886-5-5324811 FAX:+886-5-5320332SWIFT:TACBTWTP566

YONGKANG BRANCH No.357, Jhonghua Rd., Yongkang City, Tainan County, TaiwanTEL:+886-6-2316971 FAX:+886-6-2316924SWIFT:TACBTWTP153

WANNEI BRANCHNo.675, Jiangong Rd., Sanmin District, Kaohsiung City, TaiwanTEL:+886-7-3861591 FAX:+886-7-3869394SWIFT:TACBTWTP128

KAOHSIUNG SOFTWARE PARK BRANCHNo. 11-2, Chenggong 2nd Rd., Qianzhen District, Kaohsiung City, TaiwanTEL:+886-7-5351888 FAX:+886-7-5352008SWIFT:TACBTWTP352

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Auditing Division, Board of DirectorsTel: +886-2-23118811

Secretariat, Board of Directors Tel: +886-2-23118811

Business Management DepartmentTel: +886-2-23118811

Treasury Department Tel: +886-2-27312798

Corporate Banking Department Tel: +886-2-23118811

Credit Management DepartmentTel: +886-2-23118811

International Banking DepartmentTel: +886-2-27400628

Personal Banking DepartmentTel: +886-2-23317531

Trust DepartmentTel: +886-2-23118001

Wealth Management DepartmentTel: +886-2-23611100

Securities DepartmentTel: +886-2-23712798

Secretariat Tel: +886-2-23118811

Electronic Banking DepartmentTel: +886-2-23317531

Credit Card DepartmentTel: +886-2-23317531

Loan Assets Management DepartmentTel: +886-2-23118811

General Affairs DivisionTel: +886-2-23118811

Accounting DivisionTel: +886-2-23118811

Information Technology DivisionTel: +886-2-27045799

Credit Analysis & Research DivisionTel: +886-2-23118811

Human Resource DivisionTel: +886-2-23118811

Risk Management DivisionTel: +886-2-23118811

Legal Affairs DivisionTel: +886-2-23118811

Security Management DivisionTel: +886-2-23118811

Service Network

Head Office 77, Kuanchien Road, Jhongcheng District,Taipei 100, Taiwan, Tel:+886-2-23118811; Fax:+886-2-23752954Web Site http://www.tcb-bank.com.tw

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Nanjing Donglu BranchNo.98, Sec. 1, Nanjing E. Rd., Taipei, TaiwanTel:+886-2-25623150

Wujhou BranchNo.237, Sungchiang Rd., Taipei, TaiwanTel:+886-2-25077666

Datong BranchNo.10, Sec. 3, Chengde Rd., Taipei, TaiwanTel:+886-2-25932323

Shihpai BranchNo.201, Sec. 2, Shihpai Rd., Taipei, TaiwanTel:+886-2-28747611

Jhongsiao BranchNo. 285, Sec. 4,Jhongsiao E. Rd., Taipei, TaiwanTel:+886-2-27718811

Sansing BranchNo. 77, Sec. 2, Keelung Rd., Taipei, TaiwanTel:+886-2-27388181

Songshan BranchNo. 622, Sec. 4, Bade Rd., Taipei, TaiwanTel:+886-2-27656261

Shihlin BranchNo. 282, Chungcheng Rd., Shihlin District, Taipei, TaiwanTel:+886-2-28313141

Jingmei BranchNo. 457, Sec. 6, Roosevelt Rd., Taipei, TaiwanTel:+886-2-29318111

Chengdong BranchNo.87, Songjiang Rd., Taipei, TaiwanTel:+886-2-25070111

Offshore Banking Branch 6th Fl., No. 325, Jhongsiao E. Rd., Sec. 4, Taipei, Taiwan

Tel: +886-2-27400628

Business Department77, Kuanchien Rd., Taipei, Taiwan, Tel:+886-2-23118811

Taida BranchB1, No.7, Jhongshan S. Rd., Taipei, TaiwanTel:+886-2-23568071

Dunhua BranchNo.88, Sec. 1, Dunhua S. Rd., Taipei, TaiwanTel:+886-2-27769666

Taipei BranchNo.55, Fuhsing N. Rd., Taipei, TaiwanTel:+886-2-27724277

Dadaocheng BranchNo.67, Sec. 2, Chungking N. Rd., Taipei, TaiwanTel:+886-2-25568111

Jhongshan Lu BranchNo.71, Sec. 2, Jhongshan N. Rd., Taipei, TaiwanTel:+886-2-25213211

Yanping BranchNo.301, Nanking W. Rd., Taipei, TaiwanTel:+886-2-25554111

Simen BranchNo.77, Kunming St., Taipei, TaiwanTel:+886-2-23814949

Dongmen BranchNo.208, Sec. 2, Hsinyi Rd., Taipei, TaiwanTel:+886-2-23933123

Domestic Units

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Da-an BranchNo.1, Lane 81, Sec.2 Dunhua S. Rd., Taipei, TaiwanTel:+886-2-27553482

Mincyuan BranchNo.58, Sec. 3, Mincyuan E. Rd., Taipei, TaiwanTel:+886-2-25057011

Beining BranchNo.16, Sec.4, Nanking E. Rd., Taipei, TaiwanTel:+886-2-25798811

Dong Taipei BranchNo.325, Sec. 4, Jhongsiao E. Rd., Taipei, TaiwanTel:+886-2-27721234

Chengnei BranchNo.87, Hengyang Rd., Taipei, TaiwanTel:+886-2-23311041

Jianguo BranchNo.77, Sec. 3, Sinyi Rd., Taipei, TaiwanTel:+886-2-27027850

Yuanshan BranchNo. 89-4, Sec. 2, Chungshan N. Rd., Taipei, TaiwanTel:+886-2-25113245

Sinyi BranchNo.172, Sec. 4, Sinyi Rd., Taipei, TaiwanTel:+886-2-27067188

Changchun BranchNo.201, Changchun Rd., Taipei, TaiwanTel:+886-2-25035015

Ren-ai BranchNo.325, Sec. 4, Ren-ai Rd., Taipei, TaiwanTel:+886-2-27763071

Yucheng BranchNo.815, Sec. 5, Jhongsiao E. Rd., Taipei, TaiwanTel:+886-2-27856060

Guting BranchNo.65, Sec.1, Hoping E. Rd., Taipei, TaiwanTel:+886-2-23949205

Chang-an BranchNo.9, Sec.1, Chang-an E. Rd., Taipei, TaiwanTel:+886-2-25637181

Songsing BranchNo.202-1, Sec.5, Nanking E. Rd., Taipei, TaiwanTel:+886-2-27643131

Minzu BranchNo.277, Sec.3, Chengde Rd., Taipei, TaiwanTel:+886-2-25962271

Fusing BranchNo.237, Sec.1, Fusing S. Rd., Taipei, TaiwanTel:+886-2-27541111

Shuanglian BranchNo.113, Minsheng W. Rd., Taipei, TaiwanTel:+886-2-25577151

Minsheng BranchNo.126, Sec.3, Minsheng E. Rd., Taipei, TaiwanTel:+886-2-27181339

Sinsheng BranchNo.93, Sec.1, Sinsheng S. Rd., Taipei, TaiwanTel:+886-2-27771888

Songjiang BranchNo.152, Songjiang Rd., Taipei, TaiwanTel:+886-2-25224567

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Bei Shihlin BranchNo.837, Sec.5, Jhongshan N. Rd., Taipei, TaiwanTel:+886-2-88665959

Sinwei BranchNo.303, Sec.1, Fusing S. Rd., Taipei, TaiwanTel:+886-2-27053828

Sihu BranchNo.206, Rueiguang Rd., Taipei, TaiwanTel:+886-2-27971989

Dahu BranchNo.314, Sec.6, Mincyuan E. Rd., Taipei, TaiwanTel:+886-2-26328600

Daciao BranchNo.136, Mincyuan W. Rd., Taipei, TaiwanTel:+886-2-25579577

National Medical Center BranchNo.325, Sec.2, Chenggong Rd., Neihu , Taipei, TaiwanTel:+886-2-87925745

Gongguan Mini-BranchNo.29, Lane 113, Sec.4, Luosihfu Rd., Taipei, TaiwanTel:+886-2-27357457

Jhongcin Mini-BranchNo.360, Sec.6, Jhongsiao E. Rd., Taipei, TaiwanTel:+886-2-27857291

Jiankang BranchNo.131, Jiankang Rd., Taipei, TaiwanTel:+886-2-27627184

Bo-ai Mini-BranchNo.172-1, Boai Rd., Taipei, TaiwanTel:+886-2-23822835

Yongji BranchNo.279, Songshan Rd., Taipei, TaiwanTel:+886-2-27675226

Fudan BranchNo.100, Sec.4, Shihmindadao, Taipei, TaiwanTel:+886-2-27215551

Neihu BranchNo.502, Rueiguang Rd., Neihu , Taipei, TaiwanTel:+886-2-26590001

Nangang BranchNo.19-13, Sanjhong Rd., Nangang , Taipei, TaiwanTel:+886-2-26550777

Zihciang BranchNo.85, Sec.2, Nanjing E. Rd., Taipei, TaiwanTel:+886-2-21003100

Jhongshan BranchNo.2, Sec.2, Nanjing E. Rd., Taipei, TaiwanTel:+886-2-25214065

Dunnan BranchNo.362, Sec.1, Dunhua S. Rd., Taipei, TaiwanTel:+886-2-27011117

World Trade Center Branch2nd Fl., No.333, Sec.1, Keelung Rd., Taipei, TaiwanTel:+886-2-27291333

Yanji BranchNo.376-1, Sec.4, Renai Rd., Taipei, TaiwanTel:+886-2-27069955

Guangfu South Road BranchNo.102, Guangfu S.Rd., Taipei, TaiwanTel:+886-2-27518770

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Jieshou Mini-BranchNo.164, Boai Rd., Taipei, TaiwanTel:+886-2-23710461

Wunhua Mini-BranchNo.107, Linsen S. Rd., Taipei, TaiwanTel:+886-2-23413261

Fusinggang BranchNo.70, Sec.2, Jhongyang N. Rd., Taipei, TaiwanTel:+886-2-28941534

Bei Yuanshan BranchNo.31, Sec.3, Jhongshan N. Rd., Taipei, TaiwanTel:+886-2-25971630

Songbei BranchNo.174, Sec.2, Minsheng E. Rd., Taipei, TaiwanTel:+886-2-25035523

Ganghu BranchNo. 223, Jhongyang Rd., Nangang , Taipei, TaiwanTel:+886-2-27862268

Jilin BranchNo.125, Sec.2, Minsheng E. Rd., Taipei, TaiwanTel:+886-2-25633906

Nanking West Road BranchNo.46, Nanking W. Rd., Taipei, TaiwanTel:+886-2-25523000

Jhonglun BranchNo.45, Dongsing Rd., Taipei, TaiwanTel:+886-2-87681717

Sinhu BranchNo.255, Sinhu 2nd Rd., Taipei, TaiwanTel:+886-2-27908118

Yonghe BranchNo. 575, Jhongjheng Rd., Yonghe City, Taipei County, TaiwanTel:+886-2-29236611

Jhonghe BranchNo.9, Taihe St. Jhonghe City, Taipei County, TaiwanTel:+886-2-22499500

Shuanghe BranchNo.196, Jianyi Rd., Jhonghe City, Taipei County, TaiwanTel:+886-2-82271627

Nanshihjiao BranchNo.20, Sec.1, Sing S. Rd., Jhonghe City, Taipei County, TaiwanTel:+886-2-29461266

Sindian BranchNo.32, Guangming St., Sindian City, Taipei County, TaiwanTel:+886-2-29111111

Liouhe BranchNo.2, San Min Rd., Sindian City, Taipei County, TaiwanTel:+886-2-29172911

Sanchong BranchNo.17, Jhengyi S. Rd., Sanchong City, Taipei County, TaiwanTel:+886-2-29738111

Dong Sanchong BranchNo.37, Sec.2, Sanhe Rd., Sanchong City, Taipei County, TaiwanTel:+886-2-29728110

Bei Sanchong BranchNo.84, Sanming Rd., Luzhou City, Taipei County, Taiwan Tel:+886-2-82825678

Sinjhuang BranchNo.200, Jhongjheng Rd., Sinjhuang City, Taipei County, TaiwanTel:+886-2-29929981

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Wugu BranchNo.2, Sec.1, Jhongsing Rd., Wugu Township, Taipei County, TaiwanTel:+886-2-89769698

Shulin BranchNo.152, Sec.1, Jhongshan Rd., Shulin City, Taipei County, Taiwan Tel:+886-2-86872211

Taishan BranchNo.148, Sec. 3, Mingjhih Rd., Taishan Township, Taipei County, TaiwanTel:+886-2-29082811

Bei Sansia BranchNo.71, Wunhua Rd., Sansia Township, Taipei County, TaiwanTel:+886-2-26711110

Bansin BranchNo.30, Sec. 1, Wunhua Rd., Banciao City, Taipei County, TaiwanTel:+886-2-22726850

Nan Sanchong BranchNo.120, Jhengyi N. Rd., Sanchong City, Taipei County, TaiwanTel:+886-2-29817117

Beisin BranchNo.288, Guangming St., Sindian City, Taipei County, TaiwanTel:+886-2-29188321

Jhanghe BranchNo.246-1, Liancheng Rd., Jhonghe City, Taipei County, TaiwanTel:+886-2-22262829

Baociao BranchNo.2, Lane 235, Baociao Rd., Sindian City, Taipei County, TaiwanTel:+886-2-29185506

Dong Sinjhuang BranchNo.339, Sihyuan Rd., Sinjhuang City, Taipei County, TaiwanTel:+886-2-29973456

Haishan BranchNo.443, Sec.2, Wunhua Rd., Banciao City, Taipei County, TaiwanTel:+886-2-22551333

Banciao BranchNo.20, Sec.1, Wunhua Rd., Banciao City, Taipei County, TaiwanTel:+886-2-29660971

Pucian Branch2nd Fl., No.33, Sec.2, Sanmin Rd., Banciao City, Taipei County, TaiwanTel:+886-2-29631122

Tucheng BranchNo.96, Sec.2, Jhongyang Rd., Tucheng City, Taipei County, TaiwanTel:+886-2-22651611

Sijhih BranchNo.225, Jhongsiao E. Rd., Sijhih City, Taipei County, TaiwanTel:+886-2-26413211

Sansia BranchNo.61, Wunhua Rd., Sansia Township, Taipei County, TaiwanTel:+886-2-26747999

Danshuei BranchNo.119, Jhongjheng Rd., Danshuei Township, Taipei County, TaiwanTel:+886-2-26211415

Erchong BranchNo.81, Sec.1, Guangfu Rd., Sanchong City, Taipei County, TaiwanTel:+886-2-29993399

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Sintai BranchNo.115, Sintai Rd., Sinjhuang City, Taipei County, TaiwanTel:+886-2-29986688

Bei Tucheng BranchNo.200, Sec. 1, Syuefu Rd., Tucheng City, Taipei County, TaiwanTel:+886-2-22731688

Nan Sijhih Branch No.94-1, Sec. 1, Sintai 5th. Rd., Sijhih City, Taipei County, TaiwanTel:+886-2-26968888

Bei Shulin BranchNo.793, Jhongjheng Rd., Shulin City, Taipei County, TaiwanTel:+886-2-26762789

Wugu Industrial Park BranchNo.119, Wugong Rd., Wugu Township, Taipei County, TaiwanTel:+886-2-22989898

Dapinglin BranchNo.67, Mincyuan Rd., Sindian City, Taipei County, TaiwanTel:+886-2-29138611

Sinshu BranchNo.224, Sinshu Rd., Sinjhuang City, Taipei County, TaiwanTel:+886-2-22012797

Yingge BranchNo.126, Jianguo Rd, Yingge Township, Taipei County, TaiwanTel:+886-2-86781188

Lujhou BranchNo.222-6, Jixian Rd, Luzhou City, Taipei County, TaiwanTel:+886-2-22839988

Lide BranchNo.105, Lide St., Jhonghe City, Taipei County, TaiwanTel:+886-2-82282121

Bei Jhonghe BranchNo.35, Sec.,3,Jhongshan Rd., Jhonghe City, Taipei County, TaiwanTel:+886-2-22263667

Danfong BranchNo.657-10,14, Jhongjheng Rd., Sinjhuang City, Taipei County, TaiwanTel:+886-2-29088979

Keelung BranchNo.255, Ren-er Rd., Keelung, TaiwanTel:+886-2-24284181

Heping BranchNo.389, Jhongjheng Rd., Keelung, TaiwanTel:+886-2-24622155

Dong Keelung BranchNo.143, Hsin 1st. Rd., Keelung, TaiwanTel:+886-2-24283111

Yilan BranchNo.30, Sec. 3, Jhongshan Rd., Yilan City, TaiwanTel:+886-3-9323911

Luodong BranchNo.51, Gongjheng Rd., Luodong Township, Yilan County, TaiwanTel:+886-3-9545191

Su-ao BranchNo.56, Yugang Rd., Su-ao Township, Yilan County, TaiwanTel:+886-3-9962521

Bei Luodong BranchNo.54, Jhongjheng N. Rd., Luodong Township, Yilan County, TaiwanTel:+886-3-9545795

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060

Jiaosi BranchNo.32, Sec. 5, Jiaosi Rd., Jiaosi Township, Yilan County, TaiwanTel:+886-3-9887100

Taoyuan BranchNo.58, Jhongjheng Rd., Taoyuan City, TaiwanTel:+886-3-3326121

Cihwun BranchNo.720, Jhongjheng Rd., Taoyuan City, TaiwanTel:+886-3-3578811

Dasi BranchNo.43, Sinyi Rd., Dasi Township, Taoyuan County, TaiwanTel:+886-3-3874666

Gueishan BranchNo.1068, Sec. 2, Wanshou Rd., Gueishan Township, Taoyuan County, Taiwan.Tel:+886-3-3299661

Jhongli BranchNo.180, Jhongshan Rd., Jhongli City, Taoyuan County, TaiwanTel:+886-3-4225141

Longtan BranchNo.221, Jhongjheng Rd., Longtan Township, Taoyuan County, TaiwanTel:+886-3-4893512

Jhongyuan BranchNo.392, Sec. 2, Jhongbei Rd., Jhongli City, Taoyuan County, TaiwanTel:+886-3-4688998

Hueilong BranchNo.163, Sec. 1, Wanshou Rd., Gueishan Township, Taoyuan County, TaiwanTel:+886-2-82098266

Nan Taoyuan BranchNo.845, Jhongshan Rd., Taoyuan City, Taoyuan County, TaiwanTel:+886-3-3692188

Pingjhen BranchNo.290, Sec. 2, Huannan Rd., Pingjhen City, Taoyuan County, TaiwanTel:+886-3-4689299

Linkou BranchNo.49, Wunhua 2nd. Rd., Gueishan Township, Taoyuan County, TaiwanTel:+886-3-3183880

Dong Taoyuan BranchNo.12, Jhonghua Rd., Taoyuan City, TaiwanTel:+886-3-3355009

Lisin BranchNo.119, Jhongshan Rd., Jhongli City, Taoyuan County, TaiwanTel:+886-3-4222131

Nankan BranchNo.11, Nanshang Rd., Lujhu Township, Taoyuan County, TaiwanTel:+886-3-3221199

Dahan BranchNo.97, Cihhu Rd., Dasi Township, Taoyuan County, TaiwanTel:+886-3-3885696

Sinming BranchNo.366, Jhongjheng Rd., Jhongli City, Taoyuan County, TaiwanTel:+886-3-4939393

Yangmei BranchNo.197, Sec. 2, Jhongshan N. Rd., Yangmei Township, Taoyuan County, TaiwanTel:+886-3-4313838

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Long-An BranchNo.140, Long-an St., Taoyuan City, TaiwanTel:+886-3-3789988

Bade BranchNo.767, Sec. 1, Jieshou Rd., Bade City, Taoyuan County, TaiwanTel:+886-3-2185888

Dacheng BranchNo.221, Dacheng Rd., Yangmei Township, Taoyuan County, TaiwanTel:+886-3-2888890

Luchu BranchNo.387, Dazhu Rd., Luchu Township, Taoyuan County, TaiwanTel:+886-3-3232010

Hsinchu BranchNo.23, Jhongjheng Rd., Hsinchu, TaiwanTel:+886-3-5244151

Bei Hsinchu BranchNo.168, Beida Rd., Hsinchu, TaiwanTel:+886-3-5284001

Guangfu BranchNo.57, Dongguang Rd., Hsinchu, TaiwanTel:+886-3-5753666

Jhucian BranchNo.60, Dongmen Street, Hsinchu, TaiwanTel:+886-3-5215121

Hsinchu Science-Based Industrial Park BranchNo.1, Keji Rd., Hsinchu , TaiwanTel:+886-3-5783962

Jingguo BranchNo.71, Zihyou Rd., Hsinchu, TaiwanTel:+886-3-5311966

Jhudong BranchNo.92, Sec. 2, Changchun Rd., Jhudong Township, Hsinchu County, TaiwanTel:+886-3-5963126

Jhubei BranchNo.261, Guangming 6th. Rd., Jhubei City, Hsinchu County, TaiwanTel:+886-3-5546000

Dong Jhudong BranchNo.9, Donglin Rd., Jhudong Township, Hsinchu County, TaiwanTel:+886-3-5942751

Dong Jhubei BranchNo.343, Jhongjheng E. Rd., Jhubei City, Hsinchu County, TaiwanTel:+886-3-5540108

Lioujia BranchNo.259, East Sec. 1, Guangming 6th. Rd., Jhubei City, Hsinchu County, TaiwanTel:+886-3-6586969

Miaoli BranchNo.660, Jhongjheng Rd., Miaoli City, Miaoli County, TaiwanTel:+886-37-320921

Toufen BranchNo.70, Ren-ai Rd., Toufen Township, Miaoli County, TaiwanTel:+886-37-665115

Bei Miaoli BranchNo.396, Jhongjheng Rd., Miaoli City, Miaoli County, TaiwanTel:+886-37-351111

Dong Toufen BranchNo.107, Jhongjheng Rd., Toufen Township, Miaoli County, TaiwanTel:+886-37-671818

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Fongyuan Branch No.102, Jhongjheng Rd., Fongyuan City, Taichung County, TaiwanTel:+886-4-25231122

Nan Fongyuan BranchNo.138, Yuanhuan S. Rd., Fongyuan City, Taichung County, TaiwanTel:+886-4-25244180

Shalu Branch No.106, Shatian Rd., Shalu Township, Taichung County, TaiwanTel:+886-4-26622141

Dali BranchNo.384, Sec. 1, Jhongsing Rd., Dali City, Taichung County, TaiwanTel:+886-4-24934111

Taiping BranchNo.84, Jhongsing Rd., Taiping City, Taichung County, TaiwanTel:+886-4-22761515

Wurih BranchNo.598, Sec. 1, Jhongshan Rd., Wurih Township, Taichung County, TaiwanTel:+886-4-23369911

Shenkuang BranchNo.35, Shencing Rd., Shengang Village, Shengang Township, Taichung County, TaiwanTel:+886-4-25621111

Fongjhong BranchNo.351, Jhongjheng Rd., Fongyuan City, Taichung County, TaiwanTel:+886-4-25280369

Bei Dali BranchNo.261, Sec. 2, Sinren Rd., Dali City, Taichung County, TaiwanTel:+886-4-24836699

Dong Shalu BranchNo.26, Rihsin St., Shalu Township, Taichung County, TaiwanTel:+886-4-26653311

Pinglin BranchNo.348, Sec. 2, Jhongshan Rd., Taiping City, Taichung County, TaiwanTel:+886-4-23930519

Daya BranchNo.95, Sec. 2, Yahuan Rd., Daya Township, Taichung County, TaiwanTel:+886-4-25660199

Taichung Branch No.2, Sec. 2, Zihyou Rd., Taichung, TaiwanTel:+886-4-22245121

Jhongsing BranchNo.5, Gongyuan Rd., Taichung, TaiwanTel:+886-4-22241161

Wucyuan BranchNo.61, Sec. 2, Gongyi Rd., Taichung, TaiwanTel:+886-4-23229191

Situn BranchNo.67, Sec. 3, Wunsin Rd., Taichung, TaiwanTel:+886-4-23112411

Beitun BranchNo.670, Sec. 4, Wunsin Rd., Taichung, TaiwanTel:+886-4-22301199

Nan Taichung BranchNo.789, Jhongming S. Rd., Taichung, TaiwanTel:+886-4-22617211

Nantun BranchNo.103, Sec. 2, Wucyuan W. Rd., Taichung, TaiwanTel:+886-4-24752171

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Si Taichung BranchNo.151, Sec. 2, Hankou Rd., Taichung, TaiwanTel:+886-4-23170311

Bei Taichung BranchNo.375, Wucyuan Rd., Taichung, TaiwanTel:+886-4-22055588

Jyungong BranchNo.315, Sec.1, Dongshan Rd., Taichung, TaiwanTel:+886-4-22390128

Yong-An BranchNo.15, Yung Fu Rd., Taichung, TaiwanTel:+886-4-24623181

Jhongcyuan BranchNo.478, Jhongjheng Rd., Taichung, TaiwanTel:+886-4-22037979

Taiyuan BranchNo.247, Beitun Rd., Taichung, TaiwanTel:+886-4-22334291

Songjhu BranchNo.95, Sec.2, Changping Rd., Taichung, TaiwanTel:+886-4-24228751

Jinhua BranchNo.328, Jinhua Rd., Taichung, TaiwanTel:+886-4-23609617

Jhongcing BranchNo.7, Jhongcing Rd., Taichung, TaiwanTel:+886-4-22913176

Jiancheng BranchNo.1499, Jiancheng Rd., Taichung, TaiwanTel:+886-4-22873311

Chaoma BranchNo.122-17, Sec. 2, Jhonggang Rd., Taichung, TaiwanTel:+886-4-27013115

Dong Taichung BranchNo.380, Sec. 3, Fusing Rd., Taichung, TaiwanTel:+886-4-22203161

Meichun BranchNo.188, Sec. 2, Meichun Rd., Taichung, TaiwanTel:+886-4-22614377

Liming BranchNo.1064, Sec. 1, Liming Rd., Taichung, TaiwanTel:+886-4-23892493

Changping BranchNo.163, Sec. 1, Changping Rd., Taichung, TaiwanTel:+886-4-22443037

Jingwu BranchNo.170, Jingwu E. Rd., Taichung, TaiwanTel:+886-4-22116358

Wunsin BranchNo.316, Sec. 1, Wunsin Rd., Taichung, TaiwanTel:+886-4-23223300

Sinjhong BranchNo.91, Mincyuan Rd., Taichung, TaiwanTel:+886-4-22237711

Jhonggang BranchNo.152, Sec.3, Wunsin Rd., Taichung, TaiwanTel:+886-4-23138811

Weidao BranchNo.337, Daya Rd., Taichung, TaiwanTel:+886-4-22987988

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Jhongming South Road BranchNo.451, Jhongming S. Rd., Taichung, TaiwanTel:+886-4-23764066

Shueinan BranchNo.111, Lane 68, Fusing N. Rd., Taichung, TaiwanTel:+886-4-27029354

Fongjia BranchNo.252, Sec.2, Situn Rd., Taichung, TaiwanTel:+886-4-27089075

Nantou BranchNo.96, Jhongshan St., Nantou City, Nantou county, TaiwanTel:+886-49-2234141

Jhushan Branch No.839, Sec. 3, Jishan Rd., Jhushan Township, Nantou county, TaiwanTel:+886-49-2652721

Puli Branch No.299, Sec. 2, Jhongshan Rd., Puli Township, Nantou county, TaiwanTel:+886-49-2986411

Caotun BranchNo.864, Jhongjheng Rd., Caotun Township, Nantou county, TaiwanTel:+886-49-2338141

Jiji BranchNo.176, Minsheng Rd., Jiji Township, Nantou county, TaiwanTel:+886-49-2761501

Dong Puli Branch No.320, Jhongjheng Rd., Puli Township, Nantou county, TaiwanTel:+886-49-2989160

Changhua Branch No.279, Minsheng Rd., Changhua City, TaiwanTel:+886-4-7225151

Jhangying Branch No.532, Minzu Rd., Changhua City, TaiwanTel:+886-4-7229221

Jhangchu Branch No.321, Sec. 1, Jhongjheng Rd., Changhua City, TaiwanTel:+886-4-7240082

Hemei Branch No.361, Sec. 6, Luhe Rd., Hemei Township, Changhua County, TaiwanTel:+886-4-7570123

Sihu Branch No.56, Sihuan Rd., Sihu Township, Changhua County, TaiwanTel:+886-4-8829121

Yuanlin Branch No.844, Sec. 1, Jhongshan Rd., Yuanlin Township, Changhua County, TaiwanTel:+886-4-8322181

Jhangjhong Branch No.345, Sec. 1, Jhongshan Rd., Changhua City, TaiwanTel:+886-4-7251161

Dajhu BranchNo.239, Sec. 2, Jhangnan Rd., Changhua City, TaiwanTel:+886-4-7373311

Shengang Branch No.35, Sinsing Rd., Shengang Township, Changhua county, TaiwanTel:+886-4-7996922

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Yuansin BranchNo.733, Sec. 1, Jhongshan Rd., Yuanlin Township, Changhua county, TaiwanTel:+886-4-8322741

Nan Changhua BranchNo.43, Siaoyang Rd., Changhua City, TaiwanTel:+886-4-7254611

Beidou BranchNo.168, Jhongjheng Rd., Beidou Township, Changhua county, TaiwanTel:+886-4-8880181

Lugang BranchNo.120, Minzu Rd., Lugang Township, Changhua county, TaiwanTel:+886-4-7788511

Douliou Branch No.3, Datong Rd., Douliou City, Yunlin county, TaiwanTel:+886-5-5323981

Beigang Branch No.53, Yimin Rd., Beigang Township, Yunlin county, TaiwanTel:+886-5-7836136

Huwei Branch No.15, Jhongjheng Rd., Huwei Township, Yunlin county, TaiwanTel:+886-5-6313821

Linnei Branch No.21, Jhongsi Rd., Linjhong Village, Linnei Township, Yunlin county, TaiwanTel:+886-5-5897811

Yunlin BranchNo.223, Minsheng Rd., Douliou City, Yunlin county, TaiwanTel:+886-5-5324811

Nan Huwei BranchNo.67, Sinyi Rd., Huwei Township, Yunlin county, TaiwanTel:+886-5-6328851

Chiayi Branch No.279, Guohua Street, Chiayi, TaiwanTel:+886-5-2224571

Bei Chiayi BranchNo.3, De-an Rd., Chiayi, TaiwanTel:+886-5-2815500

Nan Chiayi Branch No.746, Minzu Rd., Chiayi, TaiwanTel:+886-5-2286311

Dong Chiayi BranchNo.425, Mincyuan Rd., Chiayi, TaiwanTel:+886-5-2225281

Puzih Branch No.62, Haitong Rd., Puzih City, Chiayi County, TaiwanTel:+886-5-3794171

Bei Puzih BranchNo.3, Wunhua N. Rd., Puzih City, Chiayi County, TaiwanTel:+886-5-3790808

Tainan BranchNo.48, Chenggong Rd., Tainan, TaiwanTel:+886-6-2232101

Bei Tainan BranchNo.159, Sec. 3, Simen Rd., Tainan, TaiwanTel:+886-6-2209211

Chenggong BranchNo.97, Sec. 1, Beimen Rd., Tainan, TaiwanTel:+886-6-2269161

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Nansing BranchNo.72, Sec. 2, Minsheng Rd., Tainan, TaiwanTel:+886-6-2221291

Chengda BranchNo.138, Shengli Rd., Tainan, TaiwanTel:+886-6-3028001

Dong Tainan BranchNo.197, Sec. 2, Jhonghua E. Rd., Tainan, TaiwanTel:+886-6-2882211

Chihkan BranchNo.204, Chenggong Rd., Tainan, TaiwanTel:+886-6-2201302

Fucheng BranchNo.380, Sec. 2, Jiankang Rd., Tainan, TaiwanTel:+886-6-2910896

Kaiyuan BranchNo.147, Kaiyuan Rd., Tainan, TaiwanTel:+886-6-2753345

Bei-An BranchNo.210, Sec.1 Bei-An Rd., Tainan, TaiwanTel:+886-6-2526718

Sinying BranchNo.115, Jhongshan Rd., Sinying City, Tainan County, TaiwanTel:+886-6-6324121

Jiali BranchNo.83, Hoping St., Jiali Township, Tainan County, TaiwanTel:+886-6-7223131

Yongkang BranchNo.357, Jhonghua Rd., Yongkang City, Tainan County, TaiwanTel:+886-6-2316971

Bei Sinying BranchNo.360, Ming Chih Rd., Sinying City, Tainan County, TaiwanTel:+886-6-6562718

Rende BranchNo.4, Sec. 3, Jhongjheng Rd., Rende Township, Tainan County, TaiwanTel:+886-6-2794616

Nan Yongkang BranchNo.202, Jhonghua Rd., Yongkang City, Tainan County, TaiwanTel:+886-6-3121916

Sinshih BranchNo.321-2, Jhongjheng Rd., Sinshih Township, Tainan County, TaiwanTel:+886-6-5999111

Kaohsiung BranchNo.97, Dayong Rd., Kaohsiung, TaiwanTel:+886-7-5514221

Cianjhen BranchNo.56, Caoya 1st. Rd., Cianjhen District, Kaohsiung, TaiwanTel:+886-7-8416491

Nan Kaohsiung BranchNo.94, Sanduo 3rd. Rd., Kaohsiung, TaiwanTel:+886-7-3348141

Sinsing BranchNo.110, Cisian 2nd. Rd., Kaohsiung, TaiwanTel:+886-7-2887121

Siande BranchNo.182, Gongjheng Rd., Kaohsiung, TaiwanTel:+886-7-7112046

Dong Kaohsiung BranchNo.2, Jhongjheng 3rd. Rd., Kaohsiung, TaiwanTel:+886-7-2366431

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Guanghua BranchNo.148-82, Guanghua 1st. Rd., Kaohsiung, TaiwanTel:+886-7-2223020

Bei Kaohsiung BranchNo.232, Jhonghua 3rd. Rd., Kaohsiung, TaiwanTel:+886-7-2863000

Lingya BranchNo.394, Cingnian 1st. Rd., Kaohsiung, TaiwanTel:+886-7-2918151

Sanmin BranchNo.30, Bo-ai 1st. Rd., Kaohsiung, TaiwanTel:+886-7-3127191

Wannei BranchNo.675, Jiangong Rd., Kaohsiung, TaiwanTel:+886-7-3861591

Cianjin BranchNo.45, Jhonghua 4th. Rd., Kaohsiung, TaiwanTel:+886-7-3363966

Tashun BranchNo.20, Tashun 3rd. Rd., Kaohsiung, TaiwanTel:+886-7-7131886

Yisin Lu BranchNo.119, Yisin 2nd. Rd., Kaohsiung, TaiwanTel:+886-7-3332020

Zuoying BranchNo.580, Bo-ai 2nd. Rd., Kaohsiung, TaiwanTel:+886-7-5562226

Gangdu BranchNo.230, Jhongjheng 4th. Rd., Kaohsiung, TaiwanTel:+886-7-2914131

Cisian BranchNo.216, Cisian 1st. Rd., Sinsing District, Kaohsiung, TaiwanTel:+886-7-2365503

Dagangpu BranchNo.176, Minsheng 1st. Rd., Kaohsiung, TaiwanTel:+886-7-2265666

Shihcyuan BranchNo.189, Bo-ai 1st. Rd., Kaohsiung, TaiwanTel:+886-7-3230611

Jiouru BranchNo.581, Jyuemin Rd., Kaohsiung, TaiwanTel:+886-7-3805001

Siaogang BranchNo.526, Hongping Rd., Kaohsiung, TaiwanTel:+886-7-8062289

Jhongjheng BranchNo.2, Jhongjheng 1st. Rd., Kaohsiung, TaiwanTel:+886-7-7498998

Gushan BranchNo.352, Zhonghua 1st. Rd., Kaohsiung, TaiwanTel:+886-7-5223311

Kaohsiung Software Park BranchNo.11-2, Chenggong 2nd Rd., Kaohsiung, TaiwanTel:+886-7-5351888

Gangshan Branch No.2, Siaocian Rd., Gangshan Township, Kaohsiung County, TaiwanTel:+886-7-6216161

Lujhu Branch No.68, Guochang Rd., Lujhu Township, Kaohsiung County, TaiwanTel:+886-7-6966122

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Fongshan Branch No.95, Jhongcheng Rd., Fongshan City, Kaohsiung County, TaiwanTel:+886-7-7460181

Wujia Branch No.164, Wujia 2nd. Rd., Fongshan City, Kaohsiung County, TaiwanTel:+886-7-7172250

Singfong Branch No.32, Jhongshan Rd., Fongshan City, Kaohsiung County, TaiwanTel:+886-7-7453101

Dafa Branch No.345, Fonglin 3rd Rd., Daliao Township, Kaohsiung County, TaiwanTel:+886-7-7830589

Fongsong BranchNo.3-4, Fongsong Rd., Fongshan City, Kaohsiung County, TaiwanTel:+886-7-7471131

Bei Gangshan Branch No.12, Jhongshan N. Rd., Gangshan Township, Kaohsiung County, TaiwanTel:+886-7-6222871

Meinong BranchNo.43, Sec. 1, Jhongcheng Rd., Meinong Township, Kaohsiung County, TaiwanTel:+886-7-6816101

Dashu BranchNo.2-8, Jhongsing E. Rd., Dashu Township, Kaohsiung County, TaiwanTel:+886-7-6517726

Liouguei BranchNo.107, Kangfu Rd., Yibao Village, Liouguei Township, Kaohsiung County, Taiwan.Tel:+886-7-6892113

Neimen BranchNo.148, Nanping Rd. Guanting Village, Neimen Township, Kaohsiung County, TaiwanTel:+886-7-6672322

Gouping Mini-BranchNo.11-1, Dingjhuang, Yongsing Village, Neimen Township, Kaohsiung County, TaiwanTel:+886-7-6601607

Renmei BranchNo.87-2, Syuetang Rd., Renmei Village, Niaosong Township, Kaohsiung County, TaiwanTel:+886-7-7321370

Dahua Mini-BranchNo.12-3, Benguan Rd., Dahua Village, Niaosong Township, Kaohsiung County, TaiwanTel:+886-7-3707332

Kaohsiung Science-Based Park BranchNo.92, Luke 5th. Rd., Lujhu Township, Kaohsiung County, TaiwanTel:+886-7-6955151

Dashe BranchNo.177-1, Cha-Pin Rd., Dashe Township, Kaohsiung County, TaiwanTel:+886-7-3582121

Linyuan BranchNo.200, Linyuan N. Rd., Linyuan Township, Kaohsiung County, TaiwanTel:+886-7-6416171

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Pingtung BranchNo.42, Jhongcheng Rd., Pingtung City, TaiwanTel:+886-8-7343611

Pingnan BranchNo.255, Mingsheng Rd., Pingnan City, TaiwanTel:+886-8-7665511

Chaojhou BranchNo.91-1, Sinsheng Rd., Chaojhou Township, Pingtung County, TaiwanTel:+886-8-7883101

Pingjhong BranchNo.287, Mingsheng Rd., Pingtung City, TaiwanTel:+886-8-7326391

Bei Chaojhou BranchNo.112, Sinsheng Rd., Chaojhou Township, Pingtung County, TaiwanTel:+886-8-7891636

Donggang BranchNo.186, Sec. 1, Guangfu Rd., Donggang Township, Pingtung County, TaiwanTel:+886-8-8353701

Wandan BranchNo.661, Sec. 2, Jhongsing Rd., Wanhuei Village, Wandan Township, Pingtung County, TaiwanTel:+886-8-7779311

Siahan OfficeNo.470, Anhe Rd., Sianan Village, Wandan Township, Pingtung County, TaiwanTel:+886-8-7072407

Fangliao BranchNo.3-1, Fude Rd., Tianshih Village, Fangliao Township, Pingtung County, TaiwanTel:+886-8-8717871

Shepi BranchNo.500, Sec. 2, Shepi Rd., Wandan Township, Pingtung County, TaiwanTel:+886-8-7071578

Hualien BranchNo.124, Jhongshan Rd., Hualien City, TaiwanTel:+886-3-8338111

Bei Hualien BranchNo.371, Jhongshan Rd., Hualien City, TaiwanTel:+886-3-8350151

Taitung BranchNo.336, Sec. 1, Jhonghua Rd., Taitung City, TaiwanTel:+886-89-323011

Dong Taitung BranchNo.181, Datong Rd., Taitung City, TaiwanTel:+886-89-325130

Penghu BranchNo.26, Ren-ai Rd., Magong City, Penghu County, TaiwanTel:+886-6-9272767

Magong BranchNo.21, Sinming Rd., Magong City, Penghu County, TaiwanTel:+886-6-9263141

TAIWANCOOPERATIVE


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United Taiwan Bank 7th Floor, Boulevard du Regent 45/46,1000 Brussels, BelgiumTel:+322-2305359 Fax : +322-2300470E-mail : [email protected]

Manila Offshore Banking Branch26th Floor, Citibank Tower, 8741 Paseo de Roxas, Makati,Metro Manila, �e PhilippinesTel:+632-8481959 Fax:+632-8481952E-mail : [email protected]

Los Angeles Branch601, South Figueroa St. Suite 3500,Los Angeles, CA 90017 U.S.A.Tel:+1-213-4895433 Fax:+1-213-4895195E-mail : [email protected]

Seattle Branch1201, �ird Ave., Suite 1200 Washington Mutual Tower, Seattle WA 98101 U.S.A.Tel: +1-206-5872300 Fax: +1-206-6224491E-mail : bank@tcbseattle .com

Hong Kong Branch13th Floor, Dah Sing Financial Centre,108 Gloucester Rd., Wanchai, H.K.Tel:+852-25981128 Fax:+852-25981028E-mail : [email protected]

Beijing Representative OfficeRoom 1805, Office Tower 1, Henderson Centre, 18,Jianguomen Nei Avenue, Beijing China P.C.100005Tel:+86-10-65188173/74/75 Fax:+86-10-65188172E-mail : [email protected]

Overseas Units Subsidiaries

Co-operative Asset Management Co., Ltd.7th Floor, No.325, Sec. 4, Jhongsiao E. Rd., Taipei City, TaiwanTel:+886-2-87720868 Fax:+886-2-87727153E-mail : [email protected]

Cooperative Insurance Brokers Co., Ltd.5th Floor, No.85, Yanping S. Rd., Taipei City, TaiwanTel:+886-2-23898811 Fax:+886-2-23891155E-mail : [email protected]

United Taiwan Bank 7th Floor, Boulevard du Regent 45/46, 1000 Brussels, BelgiumTel:+322-2305359 Fax:+322-2300470E-mail : [email protected]

Taiwan Cooperative Bills Finance Corporation14th Floor, No.85/87, Sec. 2, Nanjing E. Rd., Taipei City, TaiwanTel:+886-2-25221656 Fax:+886-2-25221552E-mail : [email protected]

Cooperative-I Asset Management Corporation7th Floor, No.325, Sec. 4, Jhongsiao E. Rd., Taipei City, Taiwan Tel:+886-2-87720868 Fax:+886-2-87727153E-mail : [email protected]

TAIWAN COOPERATIVE BANK - 合作金庫銀行官方網站 Disclosure/Documents... · 0 0 5 Letter to...

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Transcript of TAIWAN COOPERATIVE BANK - 合作金庫銀行官方網站 Disclosure/Documents... · 0 0 5 Letter to...