Rating outlooks improve across the board, both banks turn positive
Taiwan Ratings recently announced the latest rating results for the Taishin Shin Kong Financial Holding Group. All companies maintained their existing ratings, while outlooks improved across the board. Among them, Taishin Shin Kong Financial Holding, Shin Kong Life and Taishin Daan Leasing were upgraded from "negative" to "stable", while Taishin Bank and Shin Kong Bank were upgraded from "developing" to "positive", showing continued merger benefits. The two banks are scheduled to formally merge on January 1, 2027, with follow-up developments drawing close market attention.
Life insurance earnings improve, bank market share seen up to 6%
On the life insurance side, Shin Kong Life benefited from contractual service margin releases and solid investment performance, with net profit for the first three quarters of 2026 reached New Taiwan dollars 32 billion, steadily improving its financial position, with its rating outlook turning to stable. On the banking side, the combined domestic deposit market share after the merger is estimated at 5% to 6%, with moderate systemic importance, creating positive momentum for future rating upgrades.
Branches to expand to 204, account numbers to change to 14 digits
The bank subsidiaries are scheduled to complete the merger on January 1, 2027, when across Taiwan branch locations will expand to 204. All former Shin Kong Bank branches will be retained, with only 11 same-name branches to be renamed. For deposit and remittance operations, former Shin Kong Bank NTD deposit accounts with 13 digits will be assigned new 14-digit accounts by Taishin Bank from the merger reference date. Former Shin Kong online banking or mobile banking users can check their new account numbers online in advance from November 26, 2026. The bank stressed that not replacing passbooks will not affect automated transactions via online banking, mobile banking or ATMs, and customers need not rush to replace passbooks at counters.
Debit cards valid for another year, credit limits to be combined
On card benefits, valid former Shin Kong Bank debit cards will remain usable after the merger until December 31, 2027, during which customers may replace them with Taishin debit cards online or at counters at any time. Cards that were inactive, locked or reported lost before the merger date will be automatically deactivated after the merger and must be replaced. For credit cards, credit limits originally granted by the two banks will in principle be combined into a total limit from the merger reference date, with fine-tuning under competent authority rules and overall customer relationships. Holders of multiple Shin Kong credit cards in normal standing will in principle have them reissued as Taishin Richart cards with the same card numbers per the conversion table, with 60 days' advance notice of any changes. The two banks also reminded customers that they will never proactively ask for account numbers or passwords during the integration, and the public must guard against fraud.