FSC approves Yongfeng Bank's merger with Jingcheng Bank, creating Taiwan's second-largest branch network

Taiwan's financial landscape is set for a significant shift as the Financial Supervisory Commission (FSC) has officially approved the merger between Yongfeng Bank and Jingcheng Bank. This consolidation is expected to significantly enhance Yongfeng Bank's market presence and operational scale.

Upon completion of the merger, Yongfeng Bank will boast a network of 189 branches across Taiwan. This expansion will position it as the second-largest banking institution in the country by branch count, trailing only the Bank of Taiwan, which operates 248 branches. Additionally, the combined entity's network of automated teller machines (ATMs) will grow to 710, ranking seventh among domestic banks.

The merger follows Yongfeng Financial Holding Company's acquisition of Jingcheng Bank, which was finalized on October 1, 2025. The FSC's approval on July 7, 2026, greenlights the integration of the two banking operations. The surviving entity will be Yongfeng Bank, with an expected merger effective date of January 1 of the following year, though this remains subject to Yongfeng's final announcement.

According to statistics from the end of last year, Yongfeng Bank and Jingcheng Bank had total assets of approximately NT$2.83 trillion and NT$0.36 trillion, respectively. The merged bank's total assets are projected to reach NT$3.19 trillion, with a capital of about NT$129.4 billion. The FSC noted that the banks' complementary business areas, core operations, and customer bases are expected to drive operational scale and overall competitiveness.

FSC Deputy Director of Banking Bureau, Wang Yun-chung, emphasized that the merger is contingent upon ensuring robust cybersecurity, protecting customer interests, and maintaining overall operational safety and appropriateness. Therefore, the final effective date may be subject to adjustments during the subsequent administrative and handover processes.

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The FSC today also agreed to the merger case between Yongfeng Bank and Jingcheng Bank. After the merger, Yongfeng's branch numbers will jump to 189, making it the second largest in the market.