During the 1920s and 1930s, the Bank of China was by far the largest bank in China. The bank, which was authorized to issue banknotes, broke free from the Yuan Shih-k'ai government's control in 1916 under the leadership of Chang Kia-ngau, and became a private, merchant-owned bank in 1923 when the cash-strapped Peking government sold all but a symbolic number of its shares to private investors. The bank's headquarters were at 3 Hank'ou Road in the International Settlement of Shanghai. It came to be known as the Ta Ch'ing Bank before being renamed Bank of China after the establishment of the Republic of China in 1912. The Bank of China began as the Hubu (Financial Department) Bank of the Qing dynasty. Like most banks, the Bank of China was not immediately allowed to resume operations in Taiwan. The Bank of China's reserves had been transferred from mainland China to Taiwan prior to the Chinese Communist Party's takeover of the mainland in 1949. The International Commercial Bank of China was the name by which the Bank of China came to be known after its privatization in Taiwan in 1971. was founded from the merger of the historic International Commercial Bank of China ( 中國國際商業銀行) and Chiao Tung Bank ( Chinese: 交通銀行 Wade–Giles: Chiao-T'ung Yin-hang). ![]() Mega International Commercial Bank Co., Ltd. ![]() The bank is the sole domestic US dollar/Euro settlement bank designated by the Bankers Association. It has 108 branches (including foreign department) in Taiwan and 39 overseas units (excluding offshore banking branch). The Mega International Commercial Bank ( Chinese: 兆豐國際商業銀行 pinyin: Zhàofēng Guójì Shāngyè Yínháng Pe̍h-ōe-jī: Tiāu-hong-kok-chè-siong-gia̍p-gîn-hâng) is the second largest bank in Taiwan by tier 1 capital and a subsidiary of Mega Financial Holding Company. Mega International Commercial Bank main headquarter office
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